Chase Manhattan Corp. last week unveiled an individual retirement account geared to small businesses that lack a 401(k) plan.
The Simple IRA is available through Chase Global Mutual Funds Group, the banking company's $40 billion-asset investment manager.
The plan offers a choice of funds and asset allocation models for conservative, moderate, or aggressive investors, Chase said in a statement.
Plan participants and sponsors will be able to gain access to account information via a 24-hour hot line. Customers will also get a quarterly magazine on current financial trends, the banking company said.