Printer Friendly

Great-West Retirement Services(R) to Pilot RolloverSystems to Support Benefit Distribution Processing, Automated Rollovers.

CHARLOTTE, N.C. -- Great-West Retirement Services, one of the nation's leading providers of retirement products, plan administration and recordkeeping services, announced today that it will be piloting RolloverSystems' comprehensive, choice-based voluntary rollover service. The relationship allows Great-West Retirement Services to beta test the solution with some of its select clients as part of an effort to determine the added value it can provide in supporting its benefit distribution processes.

The RolloverSystems service gives plan sponsors and their participants direct access to the most comprehensive spectrum of adviser-friendly, automated rollover options available. Candidates fill out one form, compare up to five competitive IRA offers from top financial institutions and then initiate a rollover transaction online. The process generally takes less than 10 minutes to complete online or by phone.

Furthermore, RolloverSystems' technology enables companies to automate timely participant communications regarding important information related to their benefit event.

"While we have proven benefit distribution strategies already in place, we have a responsibility to our plan sponsors and their plan participants to explore new, innovative retirement products and services that may be to their benefit," said Charles Nelson, senior vice president, Great-West Retirement Services. "By testing RolloverSystems' automated platform, we can determine if it is a viable, long-term option for our business and ensure that it does not conflict with any existing relationships we currently have with brokers who distribute our products."

"We are extremely excited about partnering with Great-West Retirement Services to assist them with service to their clients," said Robert L. Johnson, chairman of the RolloverSystems board. "We're confident that our streamlined rollover program and hands-on approach will augment Great-West Retirement Services' superior customer offerings."

RolloverSystems now provides its comprehensive rollover services to more than 9,000 plan sponsors directly or through relationships with plan providers. The company handles rollover transactions for 401(k) and other qualified plans, including 403(b) and governmental 457 plans.

About Great-West Retirement Services

Great-West Retirement Services provides retirement products and services to corporate 401(k) and institutional clients, as well as government, healthcare and education customers in the public/nonprofit markets. Great-West Retirement Services is the nation's fourth-largest recordkeeper by total participants, as ranked by Spectrem Group in January 2007. In all, Great-West Retirement Services provides 401(k), 401(a), 403(b) and 457 retirement plan services to approximately 21,000 plans representing nearly 3.5 million participants with more than $104 billion in assets under administration.1

About RolloverSystems

RolloverSystems is a leading provider of outsourced retirement plan rollover services for financial institutions, plan service providers and plan sponsors. The company operates the only independent, objective platform that uses a patented process to match eligible retirement plan participants with top-tier financial institutions offering Rollover IRAs, including Ariel Mutual Funds, Oppenheimer Funds, Fidelity Investments, Wachovia Securities, Charles Schwab, American Century and Neuberger Berman. For more information on RolloverSystems, please visit www.rolloversystems.com or www.rollovermarket.com.

1 Great-West Retirement Services refers to products and services provided by Great-West Life & Annuity Insurance Company, FASCore, LLC, First Great-West Life & Annuity Insurance Company, White Plains, New York, and their subsidiaries and affiliates. Great-West Life & Annuity Insurance Company is not licensed to conduct business in New York. Insurance products and related services are sold in New York by its subsidiary, First Great-West Life & Annuity Insurance Company. Other products and services may be sold in New York by FASCore, LLC. Recordkeeping numbers shown reflect all FASCore, LLC customers: those of institutional partners, TPA clients and Great-West Retirement Services. FASCore, LLC is a wholly owned subsidiary of Great-West Life & Annuity Insurance Company. Great-West Retirement Services([R]) is a registered service mark of Great-West Life & Annuity Insurance Company.
COPYRIGHT 2007 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Feb 13, 2007
Words:607
Previous Article:Cognos Vice President, Corporate Development to Speak at the 2007 RBC Capital Markets' Communications, Media & Technology Conference on February 21.
Next Article:Cognos Vice President, Market Development to Present at the Roth Capital Partners 19th Annual OC Conference on February 21.
Topics:


Related Articles
New retirement plan distribution rules.
Rollover of qualified plan benefits - importance of form.
ASAE Partners with The Principal Financial Group to Offer Retirement Benefits.
Employers may provide IRA rollover as default option for small plan balances.
Plan distributions from SESOPs.
Let it roll: Reginald Bowser bends over backward to create convenient 401(k) transfers.
Surviving spouse can roll over retirement plan left to deceased spouse's estate.
Timing restrictions do not apply to distributions of rollover contributions.
When Reginald Bowser launched RolloverSystems Inc., a 401(k) rollover company.
Capturing retirement rollovers: life insurers have a lot to offer retirees rolling over money from qualified plans. Some are beginning to offer not...

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters