NASHVILLE - 1Point Administrative Services, a retirement services firm, has started what it calls a diversified socially responsible 401(k) plan.
The SR401k plan, which 1Point introduced Wednesday, offers access to 16 socially responsible mutual funds from nine companies. It allows participants to create a diversified portfolio of funds with varying degrees of risk tolerance.
The plan includes two portfolios from Ariel Mutual Funds of Kansas City, Mo.; six from Calvert Group Ltd. of Bethesda, Md.; two from Citizens Advisors Inc. of Portsmouth, N.H.; and one each from Domini Social Investments of New York; IPS Funds of Knoxville, Tenn.; Meyers Capital Management of Beverly Hills; Neuberger Berman of New York; Parnassus Investments of San Francisco; and Women's Equity Mutual Funds of San Francisco.
Barry Stokes, president of 1Point, said it is in discussions with Vanguard Group of Valley Forge, Pa., to add one of its funds to the plan, which is being offered through a network of third-party financial advisers.