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UBS Partners With Metavante

Monday 28 June 2004 09:00 CET | News

Metavante has entered into an agreement with Union Bank of Switzerland (UBS) to offer OnePersonPlus, a defined benefit retirement plan, to UBSs more than 7,000 financial advisors and their clients.
Metavante OnePersonPlus, developed in conjunction with Leaffer Shapiro LLC, is the first nationally available defined benefit plan of its kind. Prior to 2002, business owners could contribute a maximum of $40,000 a year in a tax-deferred retirement plan. With changes in the tax law, qualified investors may opt to contribute up to $100,000 or more each year for retirement. These funds will continue to grow tax-free until withdrawal at retirement. UBS, the worlds leading provider of wealth management services, will market the product under the name "Small Business Pension Program" to high-income, self-employed individuals and owners of small businesses with one to five employees who are age 45 or older. The plan offers the highest tax-deductible contributions permitted to employer-sponsored retirement plans for those who qualify to participate. Metavante Retirement Plan Services provides administration and record keeping for qualified retirement plans including 401(k), profit sharing, defined benefit, and section 125 flexible spending account plans, with access to thousands of mutual funds. In addition, the Metavante defined benefit program offers large tax-deductible contributions to high-income, self-employed individuals and owners of small businesses. Operating since 1973, Metavante Retirement Plan Services administers nearly 6,000 retirement plans for small and medium size companies.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce