RolloverSystems | Press Release: RolloverSystems Partners With CareerBuilder.com To Bring 401(k) Rollover Tool To Job Changers

RolloverSystems Partners With CareerBuilder.com To Bring 401(k) Rollover Tool To Job Changers

CHARLOTTE, N.C. (June 12, 2003) -- RolloverSystems Inc. today announced a strategic partnership with CareerBuilder.com, the smarter recruitment resource for finding better candidates and jobs. RolloverSystems will make its proprietary 401(k) rollover technology available at CareerBuilder.com to bring a quick and easy service to millions of potential users and significantly boost its presence on the Web.

Job changers who visit the CareerBuilder.com Rollover Center, powered by RolloverSystems, will be able to fill out a simple form online, receive multiple Individual Retirement Account (IRA) offers from a network of top-tier financial institutions, and select the rollover option that best matches their retirement savings needs. The process takes as little as 25 minutes, compared to up to eight weeks to complete a traditional rollover.

"This is a blockbuster deal for RolloverSystems because of the immense scale of distribution that it gives us," said Reginald Bowser, president and chief executive of RolloverSystems. "With millions of unique visitors to its site as well as ties to national, media, industry and local Web sites, CareerBuilder.com provides a major online presence for RolloverSystems in the United States."

"Partnering with RolloverSystems to bring this unique service to job changers fits perfectly with CareerBuilder.com's mission of helping people make smart decisions in all aspects of career transitions," said Farhan Yasin, vice president of Business Development at CareerBuilder.com. "The technology developed by RolloverSystems will bring more value to our users with an easier and faster process for moving one's retirement savings from a former employer's 401(k) plan to an IRA."

The CareerBuilder.com Rollover Center will employ the same unique rollover technology available directly from RolloverSystems at www.rollovermarket.com. Users can obtain IRA offers from major financial institutions, compare fees and other details, and complete the rollover process in less time than it takes to fill out some job applications.

Annually, about 14 million Americans change jobs and must decide what to do with their 401(k) assets. Financial advisors recommend rolling over to a tax-deferred savings vehicle such as an IRA, but many workers are put off by the cumbersome rollover process and cash out, losing up to 40 percent of their savings to taxes and penalties.

"We believe job changers have more important things to do than spend time tracking down various forms needed to open a new Rollover IRA account," Bowser said. "We help them make a sound decision about their financial future and get back to their most important task, which is planning their next career move."

About CareerBuilder.com

CareerBuilder.com is a leading online source for maximizing recruitment dollars and optimizing job searches with superior products, customer service and technology. With a unique combination of national, local and niche audiences, CareerBuilder.com makes it easy for recruiters to reach the most qualified candidates with industry-leading market research data and support. Job seekers can search for the right job from more than 400,000 continuously updated postings, representing more than 25,000 of the top employers in virtually every industry, field and location. Together with Gannett Co., Inc. (NYSE:GCI), Tribune Company (NYSE:TRB) and Knight-Ridder Inc. (NYSE: KRI), CareerBuilder.com includes the Web's top newspaper sites - the most trusted employment sources in recruiting. For more information about CareerBuilder.com products and services, call 888-670-TEAM or visit www.careerbuilder.com.

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RolloverSystems, Inc., is a Registered Investment Adviser with the U.S. Securities and Exchange Commission. RolloverSystems does not offer research or advice on specific securities, nor does the company offer tax advice. The financial institutions on the RolloverSystems network are solely responsible for their products and services. A complete description of RolloverSystems’ services is available to prospective clients in our Disclosure Brochure (Form ADV Part II).
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