Jaime Erickson

Jaime Erickson

Manager, Defined Contribution Plans

Akzo Nobel

Jaime Erickson, manager of defined-contribution plans for Akzo Nobel, said the study found $558,000 in excess revenue.
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"The final result was we would be saving $31,000 by moving to a Vanguard index fund, $67,000 by switching to a Vanguard money market [fund], $340,000 by moving to Barclays' target-date funds, and Fidelity would waive all our quarterly fees, which [total] $120,000," Erickson said.

Akzo Nobel executives also negotiated for more education for participants.

"Fidelity increased the number of education meetings from six to 12, and they waived the implementation fees for Financial Engines' managed accounts," she said.
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We found that there was hundreds of thousands of dollars generated from three outside funds," Erickson said.

CHICAGO - Akzo Nobel Inc. hired Financial Engines to provide managed accounts and investment advice to participants in its $1.6 billion 401(k) plan, effective July 1, said Jaime Erickson, manager of defined contribution plans.