Father of 401(k) Benna Touts Benefits to Plan Sponsors
CHARLOTTE, N.C. (April 26, 2005) RolloverSystems, Inc., the leader in technology-based rollover solutions, announced today the company will provide rollover distribution services, including automatic rollovers, for Malvern Benefits Corporation.
Malvern provides 401(k) retirement plan administration and record keeping services in an environment of open investment architecture free of bias toward any proprietary investment product. Malvern founder, Ted Benna, is the author of Tips for Successfully Managing Your 401(k) and 401(k) for Dummies. He is also widely known as "Father of the 401(k)."
"If there's anyone in the industry that fully understands how difficult it can be for job-changers to save responsibly for retirement, it's Ted Benna," said RolloverSystems chief executive officer Reginald Bowser. "Mr. Benna's decision to utilize our products and services to help Americans make good retirement savings choices is the strongest endorsement our company could ever have."
The agreement with RolloverSystems will enable Malvern to provide added value to plan sponsors by providing a fast, easy way for terminated participants to select an IRA and request a distribution. RolloverSystems provides multiple IRA offers to rollover candidates, fitting well with Malvern's open, unbiased investment philosophy.
"RolloverSystems' offerings are above and beyond any other rollover platform that I've seen," said Benna. "They make it easy for participants to keep saving responsibly, they reduce our distribution work and offer our clients remarkable hands-on customer service. RolloverSystems supports our business objectives, and from what I've seen they offer the only truly comprehensive, objective solution in the marketplace."
RolloverSystems' platform enables rollover candidates to fill out one form, instantly compare multiple offers from top financial institutions, and then initiate a rollover transaction online. Solutions are currently offered directly to plan participants as well as through employers and private-label solutions tailored for the customers of selected financial institutions. In addition, a diverse network of Safe Harbor IRA providers is the first complete, technology-based service for automatic rollovers.
RolloverSystems is the leading provider of technology-based 401(k) and 403
(b) rollover products and services for financial institutions, plan sponsors, and HR technology companies. The company helps financial institutions capture new Rollover IRA customers and selectively retain corporate retirement plan assets as Rollover IRAs. In addition, RolloverSystems helps plan sponsors and plan providers save time and money by outsourcing rollover transactions and enabling more terminated participants to select a rollover option. The company operates the only independent, objective platform that matches retirement plan participants with a network of top-tier financial institutions.
Malvernsm is owned and managed by a team of innovative, experienced retirement plan professionals. Senior management has over 70 years experience in the business. In fact, Ted Benna, one of Malvernsm's founders, created the first 401(k) savings plan and is commonly known as the "Father"
of 401(k). For more information of Malvern Benefits Company, please visitwww.Malvern401k.com.