CBIZ Outsources Recordkeeping Services

October 2, 2002 (PLANSPONSOR.com) - Employee benefit broker CBIZ Retirement Services is turning to an outside provider for its 401(k) recordkeeping needs in an effort to better concentrate on the rest of its business.

CBIZ’ K plan clients – 340 plans with 50,000 participants — will now get recordkeeping from BISYS, according to a press announcement.

“We believe that outsourcing this function to BISYS will proactively and successfully support our strategic growth goals and allow us to more aggressively focus our resources on providing expert consulting and advisory services for our clients,” CBIZ senior vice president Robert O’Byrne said in the statement.

BISYS’ announcement said it would provide CBIZ’s clients a variety of recordkeeping services including:

  • Web and interactive voice response inquiry capabilities
  • call center services
  • customized communication materials
  • sales support.

The clients will also have access to BISYS’ SponsorinSight product, which provides Web-based access to plan- and participant-level information, reporting, and transaction processing