Press Release
Alliance Benefit Group Selects RolloverSystems for Plan Distribution Services
IRA Choices Create Advantage for Plan Sponsors and Participants
CHARLOTTE, N.C. (May 17, 2005) -- Alliance Benefit Group, LLC has selected RolloverSystems, Inc. to provide retirement plan rollover distribution services for its 3,300 retirement plans. Alliance Benefit Group provides customized retirement plan administration, investment and employee communication services to plan sponsors through its national network of independent licensed affiliates.
"This relationship will provide additional advantages to our clients," said John Blossom, President of Alliance Benefit Group. "We now offer a cost effective way for plan sponsors to avoid "warehousing" small balance terminated participants. Our plan clients will reduce plan administration costs and eliminate the hassle of locating and serving former participants."
Under terms of the relationship, RolloverSystems will process automatic rollovers as well as voluntary rollover distributions for eligible terminated participants.
"I'm delighted Alliance Benefit Group selected us to handle their rollovers," said RolloverSystems CEO, Reginald Bowser. "They are truly committed to providing excellent customer service to their various customers. Our goal is to supplement that commitment by providing rollover-related products and services that can help them grow their business."
RolloverSystems offers outsourced distribution services to plan sponsors and plan providers. The company connects eligible plan participants to a network of top investment companies that includes Fidelity Investments, Charles Schwab & Co., JPMorgan Chase, TD Waterhouse, American Century Investments, New York Life and Harrisdirect. In addition, RolloverSystems provides a complete, technology-based service for automatic rollovers. Plan sponsors choose from a list of pre-approved safe harbor IRA providers, and RolloverSystems helps implement a program.
About Alliance Benefit Group
Alliance Benefit Group (ABG), headquartered in Peoria, IL, is a national network of independently owned retirement plan consulting and administration firms. ABG provides retirement plan services for more than 3,300 plans with over $5.9 billion under investment management. ABG strives to provide employers with the “perfect plan” through knowledge and independence. The company’s growing network is positioned to provide customized administration, investment and employee communication services to plan sponsors in each office’s own geographic area. For more information, please visit www.abgnational.com.
