New York Life Benefit Services Introduces Process for Downloading Retirement Information to Quicken.NORWOOD, Mass.--(BUSINESS WIRE)--Nov. 22, 1999-- New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Life Benefit Services, Inc. (NYLBSI), a leading retirement plan provider and consultant, announced today that it has introduced an enhancement to its website allowing participants to download their 401(k) information into Quicken(R) and other personal finance software. This enhancement will allow NYLBSI's 401(k) Complete(R) plan participants Plan participants Employees or other beneficiaries who are eligible to receive benefits from a company's employee benefit plan. to track and analyze their retirement portfolios more effectively and as part of their whole investment picture. It is available to all of NYLBSI's 401(k) customers starting immediately. "In the past, retirement plan participants had to manually enter 401(k) information into their personal finance software from a paper statement," said Tod Bryant, Director of Information Systems at the Norwood, Mass.-based retirement company. "This new feature automates the process and allows participants an increased ability to manage all of their finances together and plan for retirement." 401(k) plan participants can now download a so-called QIF QIF Quicken Interchange Format (File Name Extension) QIF Quality Improvement Forum (Process Quality Engineering PQE team) QIF Quicken Import File (Quicken Interchange Format Quicken Interchange Format (QIF) is an open specification for reading and writing financial data to media (i.e. files). A QIF file typically has the following structure: !Type:type identifier string ) file from NYLBSI's Website. The first time a file is created, the user may request that beginning balances be established for each investment fund. The participant can also request subsequent updates to the information for any time period they choose, such as weekly, monthly, or quarterly. NYLBSI has also set up a link on its Website to the Quicken Website(1) in case users have software related questions. New York Life Benefit Services, Inc., is an indirect, 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. of New York Life Insurance Company The New York Life Insurance Company (NYLIC) is the largest mutual life-insurance company in the United States, and one of the largest life insurers in the world.[3] , specializing in comprehensive defined contribution, defined benefit and deferred compensation programs. NYLBSI offers a wide range of plan sponsor and participant services, including investment options through NYLIFE Securities Inc., recordkeeping and administration, plan consulting services, employee communications and education, and employee benefits consulting. Securities are offered through NYLIFE Securities Inc., member NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). , 51 Madison Avenue, New York, NY 10010. (1)NYLBSI cannot guarantee the accuracy of information found on Quicken |
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