American Express Retirement Services Expands Effort in Taft-Hartley/Union Retirement Plan Market.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--March 25, 2002 New business development and focus on meeting union member retirement plan needs 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 has announced new efforts to bring its products and services to more union organizations by dedicating an experienced team leader and staff to support prospects and clients in the Taft-Hartley plan marketplace. Mark Colton Mark Colton (17 March 1961 - 5 August 1995) was a British racing driver and software author. He was killed in practice for a hillclimb at Craigantlet, Northern Ireland, and is widely considered one of the best drivers never to have won the British Hill Climb Championship. , vice president in American Express Retirement Services, has been given exclusive responsibility for developing new relationships with union organizations nationwide. Mark also heads a team of American Express consulting, sales and client service professionals serving the Taft Hartley marketplace. His office is located in Marlton, New Jersey Marlton is a census-designated place and unincorporated area located within Evesham Township in Burlington County, New Jersey. As of the United States 2000 Census, the population of Marlton was 10,260. , one of eight regional American Express Retirement Services offices. "We're we're Contraction of we are. we're we are pleased to initiate more concentrated business development and support efforts in the Taft-Hartley/union plan arena," said Chris CHRIS Chemical Hazards Response Information System (US DoD) CHRIS California Historical Resources Information System CHRIS Computerized Human Resources Information System CHRIS Command Human Resources Intelligence System Matzke, senior vice president, American Express Retirement Services. "Mark is an experienced leader who will effectively and efficiently bring our brand of service and education to this important marketplace. By working closely with our existing family of union clients, we've we've Contraction of we have. we've have built a strong understanding of the unique needs of union organizations and feel that American Express is positioned better than ever to serve these organizations and workers." 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 services for Taft-Hartley/union plans and members include: -- Tailored communications programs designed to help meet the unique needs of union members -- Local, on-the-ground education network providing face-to-face education opportunities for members with trained retirement plan educators -- The right combination of recordkeeping and member service technology leveraging leading Internet technologies and American Express quality service -- Online trading for self-directed brokerage accounts through American Express Brokerage -- Coordinated retirement plan and investment management services with American Express Asset Management Group Inc. "This presents a compelling combination of resources for union organizations," says Bob Richey, Senior Vice President, American Express Asset Management Group. "The defined contribution plan expertise of Mark Colton and his team complements the robust asset management capabilities we have in place for Taft-Hartley and other union organizations." American Express Retirement Services has managed retirement plan assets for Taft-Hartley/union plans since 1990, and American Express Asset Management Group has managed assets for Taft-Hartley/union plans since 1980. As more union retirement funds move toward a defined contribution approach, American Express Retirement Services is positioned to develop and grow 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. relationships with union organizations and members. American Express Company already has a longstanding commitment to unions keeping members at work with more than $2 billion in expenditures to union contractors since 1980. American Express Retirement Services, in conjunction with American Express Trust Company, provides services for defined contribution and 401(k) plans with total combined assets more than $31 billion and a participant base of more than one million. Based in Minneapolis, they provide corporations, unions and municipalities nationwide with a complete package of financial education, recordkeeping and trustee services for qualified retirement plans. For more information on American Express Retirement Services, visit http://www.americanexpress.com/sponsors. American Express Retirement Services is a service unit of American Express Financial Advisors Inc. Registered investments 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 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. American Express Asset Management Group Inc. is a federally registered investment adviser and a wholly-owned subsidiary of American Express Financial Corporation. American Express Financial Corporation is a direct and wholly-owned subsidiary of American Express Company. American Express Company is not a registered investment advisor Registered Investment Advisor (RIA) is a designation obtainable in the United States by an individual who has registered with the U.S. Securities and Exchange Commission or state regulatory agency (where the primary business is situated or multiple States in some cases) in . |
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