BISYS’ Single Source 401(k) platform was selected to support Bear Stearns’ 401(k) sales, including plan administration, daily valuation and recordkeeping services, employee communications, and extensive interactive voice response (IVR)l, and Web capabilities. As part of this expanded relationship, Bear Stearns’ mutual funds will be added to the Single Source 401(k) platform as available investment options for plan participants.
BISYS also was selected to support Bear Stearns’ Individual (k) product with its turnkey recordkeeping and administrative offering, including:
- IRS-approved prototype plan documents,
- product training,
- client-branded marketing and educational materials,
- employer and financial advisor kits, and
- customized Web content and tools.
Bear Stearns is the sixth firm to select BISYS’ Individual(k) solution since the savings plan became a viable alternative for individual business owners courtesy of the expanded contribution limits of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA).
The Bear Stearns Funds, which are advised by Bear Stearns Asset Management, include 10 domestic and one offshore fund, collectively representing approximately $5 billion in assets, according to the firm.