Online Data and Advice Provider Ink Deal

February 21, 2001 (PLANSPONSOR.com) - Plan sponsors will be able to aggregate both defined contribution and defined benefit data online and their participants can avail themselves of online advice, as a result of a new partnership between two online service providers.

Pyramid Digital Solutions, a software and services company specializing in fully integrated, front-end technology for the retirement plan industry, announced an agreement mPower, an online investment advice provider.

This partnership will leverage two Pyramid products: PlanLink, a data-integration solution introduced last year, and PlanWeb, a Web-based participant account management solution, which currently services more than eight million retirement plan participants.

Ready This Quarter

mPower said its integration plans using PlanLink technology are currently in production and are expected to be completed this quarter.

Under terms of the agreement, Pyramid will develop a PlanLink interface application for the clients it shares with mPower. Through this interface, plan participants will be able to access mPower’s advice via Pyramid’s PlanWeb application by simply clicking on an icon or button.

The PlanLink interface application will provide secure, “roundtrip” data transfer and transaction execution capabilities. This allows participants to interact with mPower without having to key in their account data or sign on to another Web site. Once the advice session ends, the participant can execute mPower’s recommendations with a single click, the company said.

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