Hartford Financial Services Group Inc. has introduced an enhanced 401(k) program designed for small and midsize businesses.
The Aviator 401(k) program targets businesses with up to $10 million of retirement plan assets under management, the company said Tuesday, and combines two existing Hartford products.
James Ohl, a senior vice president and director of the Simsbury, Conn., company's retirement plan group, said in a press release that the new program "includes simplified pricing and underwriting, a free co-fiduciary service and expanded investment choices."
In 2008, sales of Hartford defined contribution plans rose 40%, to $2 billion. Assets under management grew 30%, to $37 billion.