Products November 19, 2003

BISYS Releases Retirement Plan Tool

November 19, 2003 (PLANSPONSOR.com) - BISYS has launched a new Web-based retirement plan solution providing access to BISYS' retirement-related resources for third-party administrators (TPAs), financial advisors, plan sponsors and participants.
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With LinkinSight, TPAs and financial advisors will be able to provide their plan sponsor clients access to relevant plan and participant information via the Internet, according to BISYS.   This includes data exports that plan sponsors can use for a variety of purposes, such as ADP/ACP testing and census data delivery, according to a news release.

Additionally, plan sponsors will be able to access retirement plan balances and participant activity data, and enroll new participants online.  

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Participants will also be able to reap the rewards of the system through LinkinSight’s capabilities to:

  • view fund and portfolio information
  • change contribution elections
  • transfer fund balances
  • request distributions and loans
  • access self-directed brokerage options.   

LinkinSight also has capabilities specifically for TPAs and financial advisors.   TPAs will have access BISYS’ plan design and document preparation resources, be able to download data for compliance testing, generate customized reports, reconcile converted assets, and take advantage of BISYS’ consulting and administrative services.  

Financial advisors can use the system to select up to 15 different fund portfolios from a broad range of fund families, to initiate plan inquiries, generate plan enrollment literature, review and maintain plan participant information, and generate a variety of reports.  

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