Mercer Selects Millennium Trust for IRA Rollover Solution

Through this strategic relationship, Mercer and Millennium will present and execute a comprehensive, streamlined mandatory rollover solution that enables Mercer’s clients to mitigate the administrative burden, cost and liability associated with terminated plan participants with small balances.

“This mandatory rollover program will be integral to our clients as they continue to look to Mercer to provide solutions that help manage the costs and risks associated with their retirement plans,” said Matt Benjamin, Mercer’s defined contribution product manager.

In conjunction with Millennium, Mercer will deliver a fully integrated solution by facilitating various administrative, regulatory and communication tasks required for the forced rollover of low balance accounts. The solution will help Mercer’s clients comply with tax rules and the Department of Labor’s (DOL) fiduciary safe harbor.