Marshall & Ilsley will extend the option to the 750 plan sponsor clients and more than 325,000 participants who use the firm’s recordkeeping services.
M&I chose to offer participant advice following a survey of a core group of sponsors that indicated more than half (53.5%) wanted to offer advice to their participants.
For those plans that choose the option, participants will access the service through a link on Marshall & Ilsley Trust Company’s web site. Marshall & Ilsley Trust Company, using SunGard’s OmniPlus recordkeeping software, will provide Financial Engines with plan-specific information, including the pre-population of data from current participant account balances.
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