What is Record Keeper direct?
Capital Group, home of American Funds, offers a retirement plan solution designed specifically for smaller businesses. RecordkeeperDirect is a high-quality program that: Provides customized plan administration from a third-party administrator (TPA)
How do I access my American funds 401k account?
Use your plan ID to determine the appropriate URL to access your account.
- If your plan ID begins with IRK, BRK or 2, visit americanfunds.com/retire.
- If your plan ID begins with 34 or 135, visit myretirement.americanfunds.com.
What is a retirement plan recordkeeper?
The 401(k) recordkeeper is essentially the bookkeeper of the 401(k) plan, hence the name. The job of the recordkeeper is to track who’s in the plan, what investments they own, and what money is going in or out. Robo-advisors can help avoid more 401(k) compliance mistakes with auto-checks and communications.
What do record keepers do?
401(k) recordkeepers track assets in retirement plans. They may do other things as well, but a recordkeeper’s main function is to track how much you have, where it is, and what type of money it is. Recordkeeping fees may be paid by employers, employees, or both.
How do I access my American Funds account online?
Visit americanfunds.com/retire and then click on Log in. If this is the first time you are accessing the participant website, please select the “New user?” link on the login page. If you need assistance, please call (800) 421-4120.
What is the role of a record keeper?
The recordkeeper is essentially the bookkeeper of the plan. They track participant’s information such as account status, balances, contributions and all transactions within an account as well as other technical information about the plan. However, they do have limitations and are often misunderstood.
Is recordkeeper the same as custodian?
Recordkeeper is the term traditionally used for the plan’s investment platform and often the custodian of the plan’s assets. Often times the term “vendor” may be used for this role as well.