A news release said that the marketing arrangement allows the firms to feature BoNY’s expertise in trust, custody, and risk management with DB Complete, NYLIM Retirement Plan Services’ bundled defined benefit platform. The company said that DB Complete draws together the services associated with managing a pension plan, such as actuarial, administration, investment management and plan education.
According to the announcement, among the advantages of bundled pension services are cost savings for the plan sponsor and real-time benefit calculations. DB Complete enables integration of investment and actuarial disciplines for pension plan sponsors to make more informed, strategic decisions regarding their plan that factor in both asset- and liability-related considerations, the announcement said.
BoNY has a team of specialists who customize solutions for plan sponsors across all products of the Bank. In addition to bundled retirement services, the BoNY offers custody, risk management, trade execution, and investment and cash management to plan sponsors.