The NYLIM Web site will now be simpler to navigate using a dashboard approach that personalizes the site to fit the way each plan sponsor uses it. The site enhancements also simplify data management by allowing a plan sponsor to move back and forth between all their retirement plans, when they are administered by NYLIM.
Almost half of the bundled pension plans NYLIM administers are accompanied by a defined contribution plan also housed at NYLIM, the company said.
“We are seeing more and more plan sponsors outsourcing all their retirement plans to us as part of the total retirement outsourcing trend,” said Tom Clough, senior managing director of NYLIM Retirement Plan Services in a news release. “These web enhancements will allow them to manage all their retirement plan information much more easily and effectively.”
Some of the information that can now be personalized on a sponsor’s retirement plan home page includes:
- a summary of plan assets in all retirement plans administered by NYLIM Retirement Plan Services, updated a s of the most recent market close
- a redesigned Welcome page that may be personalized by the plan sponsor
- a Key Performance Indicators (KPI) section that might include deferral rate averages and plan participation for both defined contribution (DC) plans and monthly benefits paid for defined benefit (DB) plans or general information such as the Dow or S&P 500 YTD values.
- Quick Links specific to places a sponsor utilizes on the site most often.
- an improved, customized reporting functionality that allows a sponsor to receive plan-specific reports more quickly and efficiently.
More information is at http://www.nylim.com/retirement .