Laguna Hills, CA - With the assistance of 401(k) Advisors Inc., one of the nation´s largest independent 401(k) consultants, New Century Financial Corporation, a real estate investment trust and one of the nation's premier mortgage finance companies, has selected JP Morgan Retirement Plan Services as its new provider of its 401(k) plan, the companies announced today.
The new plan, with more than $100 million in assets, will provide its 7,000 participants with a more focused investment menu including lifestyle funds, improved investment education and custom advice, and more automated services - all at a reduced total cost to the company and the participant. In addition, the plan´s customized employee communication campaigns will address New Century´s need for education at multiple sites throughout the country.
401(k) Advisors also facilitated the plan conversion process, which was completed April 1, 2006.
"With 401(k) Advisors´ expertise and advice, we conducted a rigorous analysis of a wide range of providers, options and features, and emerged with an excellent and cost-effective solution," said Joe Beninati, Vice President of Total Rewards for New Century Financial. "We believe the enhancements to our 401(k) plan will provide our associates with exceptional opportunities to save for their retirement."
"We´re very pleased with the outcome of New Century´s search process and conversion and look forward to providing ongoing advice to the company and its participants," said Nick Della Vedova, President of 401(k) Advisors. "In this case, as in all our client engagements, we pride ourselves on making a difference. We believe in protecting our clients and their plan participants by delivering the best possible opportunities from their 401(k) plan and our firm."
About 401(k) Advisors
401(k) Advisors ( www.401kadvisors.com), one of the nation´s largest independent 401(k) consultants, with $3 billion in assets under management in the plans they advise. The company´s services help protect plan fiduciaries from personal and corporate financial liability while enhancing investment opportunities for plan participants.
About New Century Financial Corporation
Founded in 1995 and headquartered in Irvine, California, New Century Financial Corporation is a real estate investment trust and one of the nation's premier mortgage finance companies, providing mortgage products to borrowers nationwide through its operating subsidiaries, New Century Mortgage Corporation and Home123 Corporation. The company offers a broad range of mortgage products designed to meet the needs of all borrowers. New Century is committed to serving the communities in which it operates with fair and responsible lending practices. To find out more about New Century, please visit www.ncen.com.