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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
Rebecca Moore
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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