RSI In The News
RolloverSystems Rolls Out a New Service
RolloverSystems today unveiled its new roll-in service, dubbed DecisionDesk, that enables sponsors to help their participants roll their savings from previous retirement plans into their current plan.
The new service comes in response to the growing trend of abandoned workplace retirement savings plan accounts, according to the firm. It incorporates one-on-one contact between RolloverSystems and the participants to offer information and guidance about their options and the potential long term implications of their choices.
CEO Spencer Williams told the <i.401kWire that the new service originated from a pilot that the firm did with a large plan sponsor who had more than 200,000 participants and was hiring 3,000 new employees per month.
"We built this service for that company applying the principles that it's an employee benefit and it's high touch," said Williams. "The response from participants has been off the charts and the trend we're seeing is that there is a huge problem of abandoned 401(k)s and sponsors are getting involved in fixing these problems."
Williams added that he's targeting plans with assets of $500 million and above with the new service.