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Products February 13, 2007
Great-West to Offer RolloverSystems to Participants
Great-West Retirement Services is piloting a system that will allow retirement plan participants to roll their assets into an individual retirement account (IRA) through a partnership with RolloverSystems.
Reported by Adrien Martin
With the program, Great-West retirement plan participants can compare up to five IRA offers and then initiate the rollover transaction online, with the entire process taking about 10 minutes to complete online or on the phone. The system also allows companies to automate timely participant communications regarding important information related to their benefit event.
“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,” said Charles Nelson, senior vice president, Great-West Retirement Services, in the press release.
The Charlotte, North Carolina-based RolloverSystems already provides adviser-friendly, automated rollover services to more than 9,000 plan sponsors directly or through relationships with plan providers, which include services to 401(k), 403(b) and 457 plans.
For more information on RolloverSystems, please visit www.rolloversystems.com.