RSI In The News
Great-West Retirement Services® to Pilot RolloverSystems to Support Benefit Distribution Processing, Automated Rollovers
CHARLOTTE, N.C. (February 13, 2007) -- 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