Ameriprise Retirement Services and Aon Consulting Form Alliance To Offer Comprehensive Retirement Plan Solution for Employers and Employees: Retirement3.MINNEAPOLIS -- Leaders in defined benefit, defined contribution plans 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 and financial education bring employers integrated retirement plan and education services Today, Ameriprise Retirement Services (formerly 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) and Aon Consulting announced a strategic alliance to provide end-to-end defined benefit, defined contribution and retirement education and planning services. Combining their complementary strengths, Ameriprise Retirement Services and Aon Consulting have launched an integrated, all-in-one solution for managing retirement plan outsourcing, called Retirement3--Retirement Through the Power of Three: Defined benefit actuarial ac·tu·ar·y n. pl. ac·tu·ar·ies A statistician who computes insurance risks and premiums. [Latin , consulting and administration services integrated with defined contribution consulting and administration services, supported by retirement education and planning services. Designed to help employers make their retirement benefits program more valuable to employees and more efficient to manage, Retirement3 helps employees become financially prepared for retirement by providing a suite of personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. services that help them better understand and appreciate the power and value of their employer-provided retirement benefits. Retirement3 services(a) include: --Defined contribution plan recordkeeping, administration and compliance assistance --Investment management, trust and custodial services --Financial planning and education services --Plan sponsor retirement readiness diagnostic, along with annual employee "on track" statements --Defined benefit plan administration and compliance --Actuarial valuation services and retirement consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" --Retirement and total compensation statements --Total human resource outsourcing services --Web portal with access to retirement benefits package information Retirement3 makes available two unique tools in the retirement services marketplace to help plan sponsors and participants define and measure success: BluePrint Design(SM)(b) and On Track Retirement Education(SM)(c). These combined products provide financial education for employers and individuals, both for defined benefit and defined contribution plans. Organizations benefit by knowing their plan is working - or knowing what areas need improvement - through the BluePrint Design process. Individual participants benefit by receiving personalized data through On Track Retirement Education to help them determine if they are "on track" for retirement - and what they need to do to get there. 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 Ameriprise Retirement Services, stated, "Managing both defined benefit and defined contribution programs can be a challenge for companies and their employees. Dealing with multiple vendors often adds to an employer's administrative headaches and increases costs. Many workers also find it difficult to understand fully the nature and value of their benefit opportunities as they try to manage information from numerous sources, not to mention knowing if they are on track toward a secure retirement. An integrated solution customized to meet the unique needs and challenges faced by each company and its employees is the commonsense com·mon·sense adj. Having or exhibiting native good judgment: "commonsense scholarship on the foibles and oversights of a genius" Times Literary Supplement. approach--and is what we had in mind in developing Retirement3." Roger Vaughn, president of Aon Consulting, said, "We're delighted to be partnering with Ameriprise Retirement Services to offer Retirement3. Helping employees save for retirement, both from the participant and plan sponsor perspective, has never been more challenging. Retirement3 helps an organization's employees be financially prepared for retirement by helping them better understand and appreciate the power and value of their employer-provided retirement benefits. As a result, employers can measure the success of their retirement plans against desired goals, mitigate their risk of fiduciary liability and can realize reduced HR-related costs through increased employee satisfaction, productivity and retention." About Aon Aon Corporation (www.aon.com) is a leading provider of risk management services, insurance and reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. brokerage, human capital and management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects , and specialty insurance underwriting. There are 47,000 employees working in Aon's 500 offices in more than 120 countries. Backed by broad resources, industry knowledge and technical expertise, Aon professionals help a wide range of clients develop effective risk management and workforce productivity solutions. Aon Consulting is among the top global human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. consulting firms Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a , with 2004 revenues of $1.247 billion and 7,000 professionals in 120 offices throughout the world. Aon Consulting delivers integrated consulting solutions to help clients with employee benefits, human resources outsourcing, compensation, communication and management consulting. About Ameriprise Retirement Services Ameriprise Retirement Services, a service group of Ameriprise Financial Ameriprise Financial, Inc. (NYSE: AMP) is a company offering financial advice and products. It is the successor to American Express Financial Advisors (AEFA), which was a subsidiary of the American Express Company. Services, Inc., provides corporations, unions and municipalities, and more than 800,000 workers nationwide with a complete package of financial education, recordkeeping, investments and trustee services for their qualified retirement plans, as well as workplace financial education programs through Ameriprise Financial and Ameriprise Trust Company. For more information on Ameriprise Retirement Services, visit www.ameriprise.com/sponsors. Ameriprise Financial is one of the nation's leading 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 , asset management and insurance companies. Through its nationwide network of more than 10,500 financial advisors, Ameriprise Financial delivers solutions to clients through a comprehensive and personalized financial planning approach built on a long term relationship with a knowledgeable advisor. The company specializes in meeting the retirement-related financial needs of the mass affluent Mass affluent and emerging affluent are marketing terms used to refer to the growing high end of the mass market. It is most commonly used by the financial services industry to refer to individuals with US$100,000 to US$1,000,000 of liquid financial assets,[1] . For more information, visit www.ameriprise.com American Express is pursuing a spin-off to shareholders of the American Express Financial Advisors unit. The transaction is expected to be completed in the third quarter of 2005, subject to certain conditions. The company began operating as Ameriprise Financial, Inc. on August 1. First use 8/05 (a) Services provided through Ameriprise Retirement Services include: defined contribution recordkeeping and plan administration; assistance with defined contribution plan compliance; investment management; trustee and custodial services; and retirement education and planning services. Services provided through Aon Consulting include: assistance with defined benefit plan Defined benefit plan A pension plan obliging the sponsor to make specified dollar payments to qualifying employees at retirement. The pension obligations are effectively the debt obligation of the plan sponsor. Related: Defined contribution plan design, administration and compliance; actuarial valuation services and retirement plan consulting services; retirement and total compensation statements, customized communication; Total Human Resource Outsourcing services; and HR Portal(R). (b) BluePrint Design is a service mark of Ameriprise Financial Services, Inc. (c) On Track Retirement Education is a service mark of Aon Corporation. Ameriprise Retirement Services is a service group of Ameriprise Financial Services, Inc. and Ameriprise Trust Company. Registered investments and financial planning services are offered through Ameriprise Financial Services, Inc. Member NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). . Retirement plan and trust related services are offered through Ameriprise Trust Company. For institutional client use only. This press release contains certain statements related to future results, or states our intentions, beliefs and expectations or predictions for the future which are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as that term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from either historical or anticipated results depending on a variety of factors. Potential factors that could impact results include: general economic conditions in different countries in which we do business around the world, changes in global equity and fixed income markets that could affect the return on invested assets, fluctuations in exchange and interest rates that could influence revenue and expense, rating agency actions that could affect our ability to borrow funds, funding of our various pension plans, changes in the competitive environment, changes in commercial property and casualty markets and commercial premium rates that could impact revenues, changes in revenues and earnings due to the elimination of contingent commissions Contingent commissions is a term used in the American insurance industry for any kind of broker's commission which is contingent upon some event occurring (instead of a commission paid on the sale itself). In the UK this form of payment is known as Overriders. , other uncertainties surrounding a new compensation model, the impact of regulatory investigations brought by state attorneys general and state insurance regulators related to our compensation arrangements with underwriters and related issues, the impact of class actions and individual lawsuits including client class actions, securities class actions, derivative actions A lawsuit brought by a shareholder of a corporation on its behalf to enforce or defend a legal right or claim, which the corporation has failed to do. A derivative action, more popularly known as a Stockholder's Derivative Suit, is derived from the primary right of the , and ERISA See Employee Retirement Income Security Act. ERISA See Employee Retirement Income Security Act (ERISA). class actions, the cost of resolution of other contingent liabilities Contingent Liability 1. The possibility of an obligation to pay certain sums dependent on future events. 2. Defined obligations by a company that must be met, but the probability of payment is minimal. Notes: 1. and loss contingencies, and the difference in ultimate paid claims in our underwriting companies from actuarial estimates. Further information concerning the Company and its business, including factors that potentially could materially affect the Company's financial results, is contained in the Company's filings with the Securities and Exchange Commission. |
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