Great-West Test Drives RolloverSystems

February 13, 2007 ( - Great-West Retirement Services announced today that it will be piloting a system that will allow retirement plan participants to roll their assets into an individual retirement account (IRA).

The Charlotte, North Carolina-based RolloverSystems gives plan sponsors and their plan participants adviser-friendly, automated rollover options, according to a press release.  

With the program, Great-West retirement plan participants can compare up to five IRA offers and then initiate the rollover transaction online, with the entire process taking about 10 minutes to complete online or on the phone.

The system also allows companies to automate timely participant communications regarding important information related to their benefit event.

“By testing RolloverSystems’ automated platform, we can determine if it is a viable, long-term option for our business and ensure that it does not conflict with any existing relationships we currently have with brokers who distribute our products,” said Charles Nelson, senior vice president, Great-West Retirement Services, in the press release.

RolloverSystems already provides services to more than 9,000 plan sponsors directly or through relationships with plan providers, which include services to 401(k), 403(b) and 457 plans.

For more information on RolloverSystems, please visit .