Eaton Vance is offering a tax-managed account designed for investors whose qualified retirement plans have hit their contribution limits.
   The Supplemental Retirement Account (SRA), as described by the company, provides investors with a systematic way to accumulate retirement savings.
   As a nonqualified plan, the account does not have contribution limits, distribution requirements or income restrictions. It is also ineligible for tax deferrals, but Eaton Vance says, "Tax management techniques and strategies are used in managing the underlying mutual funds to minimize investor taxes."
   SRA investments are made in a diversified portfolio of tax-managed equity and tax-exempt municipal income mutual funds selected by the program participant, according to Eaton Vance.
   Among the features of the account is "dynamic asset allocation," which allows program participants to select starting and ending asset allocation targets and a final target date.
   The product requires a minimum investment of $20,000 and a commitment to make systematic investments of at least $500 per month.
   Each account carries a $30 setup fee and an annual maintenance fee of $30. Investors are also responsible for the expenses of the underlying mutual funds, according to Eaton Vance.