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Press Release

RolloverSystems To Provide Rollover Support and Services to DailyAccess Retirement Plan Clients

Dec. 11, 2008 Charlotte, NC – RolloverSystems Inc. (RSI), a retirement plan optimization specialist that helps plan sponsors manage fiduciary responsibility and reduce administrative burden and excess costs, today announced that DailyAccess Corporation has launched RSI’s industry-leading retirement plan rollover and support services as part of its platform.

DailyAccess provides personalized retirement plan recordkeeping and administration services for hundreds of clients nationally. DailyAccess’s plan sponsor clients will now have access to cost-effective, easy-to-use services from RolloverSystems that will enable them to alleviate administrative burdens associated with low-balance and terminated accounts.

Through RSI, plan sponsors and their advisors will be able to outsource the processing of terminated participants, including communications, education, and guidance for participants making rollover decisions. Terminated participants with low account balances ($5,000 or less, depending on the plan provisions) who do not request a cash distribution or a direct rollover distribution can be automatically rolled into a default IRA account chosen by the plan sponsor.

“Plan sponsors and their advisors are increasingly recognizing that a rising number of low-balance and terminated accounts, created by the mobility of the workforce and exacerbated by the growing popularity of automatic enrollment, are creating costly inefficiencies and time-consuming administrative headaches,” said Spencer Williams, CEO of RolloverSystems. “We’re delighted that DailyAccess is proactively assisting their clients by providing our services to help reduce their costs and administrative burdens.”

“We consistently implement new features and services that add value for financial advisors, plan sponsors and participants,” said Gregg Wood, COO at DailyAccess. “Because RolloverSystems’ service is integrated with the DailyAccess platform, we can offer rollover services with incredible ease of use to our clients.”

RolloverSystems can help sponsors and their advisors enhance the efficiency of their plans in three ways by:

  • Rolling in the assets of new participants, which can increase the plan’s average account balance;
  • Rolling out the assets of participants who are no longer employees, have low account balances, and/or can no longer be located, thereby reducing plan costs, eliminating headaches and managing fiduciary risk; and
  • Rolling over the assets of participants who are leaving the plan by providing them with an independent, third-party advisor who will hold their hand throughout the rollover process and provide them with a choice of high-quality, low-cost IRAs.

Plan sponsors benefit from streamlined administration, fewer headaches, higher average account balances, real plan cost savings, and the assurance that they are doing well by their participants.

Participants benefit from receiving guidance at crucial transition times when changing jobs or entering retirement, making it more likely that they will stay invested in retirement and that they will consolidate their savings in one place, making it easier to understand, manage and track them.

And advisors and third party administrators benefit by delivering added value to their clients. Additionally, they can use RSI capabilities to segment the participant population by any account size they’d like, making it possible for them to preserve their relationship with participants with the highest account balances while outsourcing to RSI the job of supporting participants with lower account balances.

For more information, visit www.RolloverSystems.com.

About RolloverSystems Inc.

Charlotte-based RolloverSystems, Inc. (RSI) is an independent provider of rollover services. Partnering with plan service providers, advisers and investment firms, RSI empowers plan sponsors to optimize plan performance by implementing rollover features that ease administrative burdens, reduce fiduciary liability, manage and improve costs, and help participants stay invested in retirement.

About DailyAccess Corporation

DailyAccess Corporation is an innovative, industry-leading retirement plan services company. Providing solutions-based technologies integrated with personalized client service, DailyAccess enables plan sponsors and financial advisors to deliver the most effective retirement plan available to the participants they serve.

For more information, please visit www.dailyaccess.com or call 888-535-4322.