The enhancements include an online tool that consolidates monthly plan activity into a single report. The reports also details changes to a participant’s retirement status, flagging:
- those who can now participate in the plan,
- those who will receive future benefits, and
- those approaching retirement.
This report displays a synopsis of plan activity for the prior month, including:
- termination distributions,
- retirement applications, and
- beneficiary payments.
Additionally, monthly trust statements and quarterly investment reports will now post automatically to each Client Access site.
Norwood, Massachusetts-based NYLB is an affiliate of New York Life Investment Management LLC (NYLIM).