MINNEAPOLIS--(BUSINESS WIRE)--March 1, 2006--U.S. Bank
Institutional Trust & Custody is introducing Roth 401(k) as a new
retirement product option for its plan sponsors.
"The U.S. Bank Institutional Trust & Custody team is always
looking for ways to have more retirement plan options available for
our clients, so we're very excited about the Roth 401(k) feature and
are among the leaders offering this option," said John Paulus, senior
vice president for U.S. Bank Institutional Trust & Custody's
Retirement Participant Services. "The Roth 401(k) feature gives our
plan sponsors the ability to offer plan participants choices regarding
the deferral option that will best benefit them and help them be
successful in their efforts to save for retirement. We already have 50
clients that have taken advantage of this new option."
To assist plan participants in determining if the Roth 401(k)
option would be beneficial for them, U.S. Bank Institutional Trust &
Custody's relationship managers have been meeting with clients. "In
addition, our employee education program for the Roth 401(k) option is
multifaceted," noted Paulus. "We have both written materials and a
powerful, easy to use online Roth calculator available."
Plan sponsors have the option of bundling the U.S. Bank Roth
401(k) with other U.S. Bank retirement services and products. The Roth
401(k) option is fully integrated into the recordkeeping, voice
response system and the www.gettingthere.usbank.com web site, so all
information is combined for the participant and the plan sponsor. This
makes offering the Roth 401(k) option simple and easy for the plan
sponsor and the participant.
To find out more about the U.S. Bank Institutional Trust & Custody
Roth 401(k) option, call 1-866-681-5052.
U.S. Bank Institutional Trust & Custody is a division of U.S. Bank
N.A. that focuses on retirement, investment, trust and custody
services for institutional clients. Its product offerings include
retirement plans (401(k), profit sharing or money purchase pension
plans, and defined benefit), institutional trust and custody, master
trust services and health savings accounts.
U.S. Bancorp (NYSE:USB), with assets of $209 billion, is the 6th
largest financial holding company in the United States. The company
operates 2,419 banking offices and 5,003 ATMs, and provides a
comprehensive line of banking, brokerage, insurance, investment,
mortgage, trust and payment services products to consumers, businesses
and institutions. U.S. Bancorp is the parent company of U.S. Bank.
Visit U.S. Bancorp on the web at www.usbank.com.
CONTACT: U.S. Bank
Amy Frantti, 612-303-0733
SOURCE: U.S. Bank