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Wachovia Creates 401(k) Type of Automatic Pilot

Wachovia Retirement Services is launching AdviceTrack, a new defined contribution program that will allow plan sponsors to boost contributions while enabling employees to delegate asset allocation and investment decisions to experts.

Employees commit to incremental annual increases in their savings rate, generally timed to coincide with merit reviews. The professional investment advice is provided by Wachovia based on specific fund allocations made by Morningstar.

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