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BIA Offers 401(k) Plan to Members

The Binding Industries Association has added another program to its line-up of member benefits. Established in 1985, the Printers 401K™ has long served the needs of printing companies across the nation. Now, the BIA is poised to offer this savings plan to its members, providing true fiduciary protection, reduced administration, outstanding investment options and an average cost savings of 21 percent.

The program transfers fiduciary responsibilities to the Printers 401K Trustees, making Printers 401K responsible for the day-to-day management of a company’s 401(k) plan. The company remains the plan’s sponsor without the fiduciary liability. The Printers 401K becomes the named Plan Administrator and Discretionary Trustee for the plan.

An investment committee comprised of owners and officers from participating companies and regional industry printing and manufacturing association directors meets quarterly with the plan’s Registered Investment Advisor, Plan Administrator and ERISA Attorney. The committee has full access to the complete universe of mutual funds, so there are no proprietary product restrictions or requirements, allowing for a prudent and objective fund selection process.

The program eliminates conflicts of interest in the management of the plan assets by operating on a revenue neutral basis. All revenue received from the investments within the program is credited back to each plan participant’s account. All fees are fully disclosed in a simple and easy to understand format. The program also removes any unnecessary and redundant fees typically found in other programs.

For more information, contact John Moynihan at 800.307.0376 or www.diversifiedfa.com/ga.