According to the announcement, enhancements include:
- Enhanced Enrollment Booklet – A comprehensive educational enrollment booklet entitled It’s Your Story, containing targeted and personalized financial illustrations, tips on investing for retirement, and how to get started in their plan.
- Participant Guidance and Advice – No cost access to guidance and advice around a tailored investment and deferral rate strategy along with an online library of investment resources such as fund analyses, financial articles and calculators, provided through Morningstar Retirement Manager.
- Personalized Rate of Return – To monitor progress toward their goals, participants can now also check their personal rate of return on the Web. This customized return gauges the total performance of the specific investments held in a participant’s portfolio.
- Automatic Account Rebalancing – Participants in BISYS-administered plans will gain the option to automatically rebalance their accounts at quarterly, semi-annual or annual intervals to retain their desired asset allocation.
- Improved Participant Account Statement – A new participant account statement with comprehensive information in an easier-to-understand format.
BISYS announced in September the addition of an automated enrollment and automated deferral feature to its 401(k) plan platform, (k)ruiseControl.
For more information, visit www.bisys.com.