NYLIM Puts DB Financials in Sponsor Toolkit

October 28, 2002 (PLANSPONSOR.com) - Defined benefit plan sponsors and their corporate finance staff who are trying to find easier ways to keep track of their plan's streams of financial data, may want to look at a new product from NYLIM Retirement Plan Services.

According to a news media release, NYLIM’s CFO Toolkit offers pension plan sponsors a single access point for their plan’s information, which the company said could help them better manage pension costs.

CFO Toolkit is being offered to NYLIM clients using DB Complete, NYLIM’s bundled pension product, the announcement said.

Among the features of the new Toolkit are:

  • monthly updates on fund information as well as the plan’s current and standard investment returns
  • investment return summaries
  • a log of all the plan’s past trust statements
  • quarterly electronic files of the plan’s investment performance report
  • an update of the plan’s portfolio composition versus its benchmarks
  • an analysis of investment performance, style and risk
  • annual actuarial valuation and financial disclosure information
  • reports that outline the plan’s funding requirements, funding status and pension expense figures.

Currently, most plan sponsors receive paper-based updates on their plan’s financial performance from multiple parties, including their actuary and consultant. This new product allows a CFO or other treasury professional to receive and manage all of their pension’s financial information in a consolidated, online format, NYLIM said.