American Express Retirement Services Debuts NEXTPlan; New Bundled Retirement Plan Services Designed for Mid-Size Companies and Organizations.To download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. high-resolution high-res·o·lu·tion adj. 1. Relating to an image that has fine detail. 2. a. Of or relating to an output device that produces images that contain a large number of dots per unit of area and are therefore sharp and , print-ready JPEG JPEG in full Joint Photographic Experts Group Standard computer file format for storing graphic images in a compressed form for general use. 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WARNING: these images are very large (800K+) Click here for caption Business Editors MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=4641381 MINNEAPOLIS--(BUSINESS WIRE)--May 18, 2004 American Express American Express (NYSE: AXP), sometimes known as "AmEx" or "Amex", is a diversified global financial services company, headquartered in New York City. The company is best known for its credit card, charge card and traveler's cheque businesses. Retirement Services today announced a new suite of retirement plan services designed exclusively for mid-size companies and organizations with $5 to 50 million in plan assets--NEXTPlan(SM) from American Express. NEXTPlan matches the power of a defined contribution leader with outstanding personal service to employers and employees, investment flexibility and a unique, local financial education presence. It is the next generation of retirement plan services for mid-market plans, bringing large market functionality and flexibility to this segment. Because it is well suited to the intermediary Intermediary See: Financial intermediary intermediary See financial intermediary. distribution channels in the mid-market, NEXTPlan increases American Express Retirement Services' distribution reach beyond its direct salesforce. "The introduction of NEXTPlan complements our position as a leading provider of bundled retirement services in the large plan market," said Ward Armstrong Ward L. Armstrong is a trial lawyer and has been a member of the Virginia House of Delegates since 1992. Armstrong was raised in Bassett, Virginia, graduating from John D. Bassett High School in 1974. , president of American Express Retirement Services. "We're excited to seize seize v. To exhibit symptoms of seizure activity, usually with convulsions. this opportunity to create an enhanced product solution that brings American Express' exceptional service, financial education and asset management capabilities to this growing segment." NEXTPlan is a new, turn-key retirement plan designed to streamline administration through state-of-the-art technology backed by a tradition of American Express service. A fully integrated defined contribution plan Defined contribution plan A pension plan whose sponsor is responsible only for making specified contributions into the plan on behalf of qualifying participants. Related: Defined benefit plan system allows plan sponsors to concentrate on running their business instead of running the retirement plan. Plan sponsors take advantage of daily recordkeeping, paperless processing, online plan administration tools and a full account team with a variety of investment options--all at a competitive price. Participants benefit from both web and phone transactional account access with the latest in account management features, as well as advice and financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against capabilities. "Many growing companies often find their level of retirement plan services struggling to keep up with the needs of their growing employee base," said John Baker, chief operations officer for American Express Retirement Services. "NEXTPlan takes them to the next level of retirement plan services with a cost-effective cost-effective, n the minimal expenditure of dollars, time, and other elements necessary to achieve the health care result deemed necessary and appropriate. and efficient platform with higher levels of service and flexibility specifically designed to keep pace with the needs of growing mid-sized companies." Setting NEXTPlan apart, its financial education component brings mid-sized employers a wider breadth of education capabilities and a unique nationwide network of local delivery. American Express' award-winning financial education programs go far beyond simple investor education to provide employees more comprehensive education on their entire financial situation. In addition, NEXTPlan offers programs designed for executives, something unique to this market segment. "As a pioneer of workplace financial education we know first-hand the positive impact it has on the saving and investing behavior of workers," said Baker. "Making it a key component of our new NEXTPlan product makes it accessible to more companies looking to complement their retirement plan benefits with financial education. It's made even more comprehensive by covering the complex needs of executives." Streamlined service and world-class financial education is combined with NEXTPlan's broad package of investment solutions. Core investment options are available from a wide range of American Express Funds, a recognized and trusted name in asset management. In addition, NEXTPlan provides access to mutual funds from "best in class" fund managers giving employees the ability to utilize mutual funds from 16 leading mutual fund companies. This total universe of close to 400 funds covers a wide spectrum of investment objectives and share classes - from capital preservation and safety of principal to long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. capital appreciation and growth. NEXTPlan brings additional capabilities to the table as well, such as self-directed accounts for participants and non-qualified plan services. For the NEXTPlan recordkeeping platform, American Express selected Great-West Retirement Services(SM). A unit of Great-West Life & Annuity annuity: see insurance. annuity Payment made at a fixed interval. A common example is the payment received by retirees from their pension plan. There are two main classes of annuities: annuities certain and contingent annuities. Insurance Company, Great-West Retirement Services is a leading provider of recordkeeping and administrative services for the defined contribution market. Specializing in private-label recordkeeping services for small and mid-market plans, Great-West Retirement Services offers American Express a broad array of cost competitive services, plus extensive experience working with outside distribution channels. "By design, NEXTPlan is a service bundle well-matched to intermediary distribution, contrasting our BlueStar(R) platform used in the direct channel," said Baker. "It effectively extends the spectrum of American Express' unique retirement plan offerings to mid-sized plans leveraging that market's primary distribution channel." American Express Retirement Service recently announced the completed transition to its new BlueStar proprietary service platform, where its existing client base is now being serviced and will remain. American Express Retirement Services, a service group of American Express Financial Advisors Inc., provides corporations, unions and municipalities, and their nearly 1 million workers nationwide with a complete package of financial education, recordkeeping, investments and trustee services for their qualified retirement plans. For more information on American Express Retirement Services, visit www.americanexpress.com/sponsors. American Express Financial Advisors Inc. popularized early saving and investing programs for Americans more than 100 years ago, helping give rise to financial planning, mutual funds and retirement plans in the past century. Today, American Express continues its commitment to individuals and corporations with its Financial Education and Planning Services unit of American Express Retirement Services, which delivers workplace financial education programs to more than 2 million workers nationwide. Editor's Note Editor's Note (foaled in 1993 in Kentucky) is an American thoroughbred Stallion racehorse. He was sired by 1992 U.S. Champion 2 YO Colt Forty Niner, who in turn was a son of Champion sire Mr. Prospector and out of the mare, Beware Of The Cat. Trained by D. : To schedule an interview with Ward Armstrong or John Baker, contact Todd Todd , Sir Alexander Robertus 1907-1997. British chemist. He won a 1957 Nobel Prize for his study of nucleic acids and nucleotide structures. Wold, (612) 671-6583 or Email todd.wold@aexp.com. First use 5/17/2004 Registered investments and financial planning services are offered through American Express Financial Advisors Inc., Member NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). . American Express Company is separate from American Express Financial Advisors Inc. and is not a broker-dealer Broker-Dealer A person or firm in the business of buying and selling securities operating as both a broker and dealer depending on the transaction. Notes: Technically, a broker is only an agent who executes orders on behalf of clients, whereas a dealer acts as a principal . Retirement plan and trust-related services are offered through American Express Trust Company. Great-West Retirement Services is a unit of Great-West Life & Annuity Insurance Company and includes services provided by its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Financial Administrative Services Corporation (FASCorp). Great-West, headquartered in metro-Denver, is an indirect, wholly owned subsidiary of Great-West Lifeco The Great-West Life Assurance Company (known more commonly as Great-West Life) is a life and health insurance company. Its headquarters is located in Winnipeg, Manitoba, Canada and its CEO is Raymond L. McFeetors. Inc. and a member of the Power Financial Corporation group of companies. MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=4641381 |
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