Products January 7, 2009

Millennium Trust Offers 403(b) Custody Solution

Millennium Trust Company, LLC, announced its appointment as successor custodian for Neuberger Berman 403(b) custodial accounts.
Reported by

A Millennium press release said that in July the firm introduced its 403(b) Custody Solution which utilizes proprietary technology to provide integration of custody services and 403(b) accounts. Millennium assumes responsibility for administrative, non-fiduciary compliance requirements under employer plan documents, while preserving existing mutual fund relationships with brokers, advisers, and fund companies.

Millennium can serve as the custodian for the entire plan or for individual 403(b) accounts, while allowing employees to continue working with their financial advisers and brokers, the press release said.

More information is available at www.mtrustcompany.com or 800.258.7878.

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Products January 7, 2009

BCG Partners with Mid Atlantic Trust To Launch 401(k) ETF Platform

Benefit Consultants Group (BCG) announced it is teaming up with Mid Atlantic Trust Company (MATC) to launch a bundled 401(k) platform offering exchange-traded funds (ETFs).
Reported by

BCG said the MATC solution eliminates operational challenges facing previous efforts to successfully integrate ETFs into daily valued 401(k) platforms. “Now, ETFs can be integrated into a 401(k) menu without sacrificing quality custody, settlement, recordkeeping, and administrative services,” and the solution allows advisers and plan sponsors the opportunity to broaden investment horizons, according to a press release.

“We are extremely pleased to form this partnership with MATC and bring new and innovative products to our advisers, who have been increasingly asking about the ability to use ETFs,” said Beau Adams, executive vice president of business development at BCG, in the release. “Advisers can now introduce ETFs without sacrificing recordkeeping, administrative accuracy, or efficiency.’

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More information is available at www.bcgbenefits.com.

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