Press Release
RolloverSystems Introduces New IRA Solutions To Help Unadvised 401(k) Participants
(February 26, 2008) Charlotte, NC – RolloverSystems Inc., an independent provider of rollover services, is adding more high-quality, brand-name rollover options to its IRA line-up to enable plan sponsors, third party administrators (TPAs), and plan advisors to provide superior support to participants leaving their plans, particularly those without access to advice.
Participants, guided and educated by experienced professionals in RSI’s Retirement Center, will now be able to choose from T. Rowe Price target date funds and a variety of Federated Investors Inc. investment options, including a stock fund, a balanced fund, a bond fund, and a money market fund. Participants, will have continual access to a large number of other solutions as well.
The new options will enable plan sponsors and advisors to support retirement readiness for all participants regardless of account size, and enhance advisors’ abilities to grow their practices through smart segmentation strategies.
“We listened intently to the 112,000 plan participants we served in 2007 and they told us very clearly what they want when rolling over: someone to guide them in their decision, a high level of ongoing service, access to brand names they recognize, and the ability to choose from among a variety of options that respond to their individual preferences,” said Jim Langenwalter, RSI’s chief marketing officer.
“By continuing to add to our solutions, from “set it and forget it” options to ones that are more hands on, we’re responding to their needs and helping them ensure their retirement readiness,” added Langenwalter. “That’s why we were able to keep nine out of every 10 participants who we served last year invested in retirement.”
RSI expects to announce more additions to its product line-up, involving other highly recognized brands, in the near future.
The new product additions enhance the ability of advisors and TPAs to preserve their relationships with participants with the highest account balances while outsourcing to RSI the job of supporting participants with lower account balances, using RSI’s capabilities to segment participant populations.
RSI’s expertise in managing the rollover process helps retirement plan sponsors optimize their plans, manage fiduciary responsibilities and reduce administrative burden and excess costs. In particular, RSI can help sponsors and their advisors consolidate active participant assets and remove terminated accounts 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 hand-holding throughout the rollover process and a choice of high-quality, low-cost IRAs.
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.
