OppenheimerFunds Puts Out RK K Plan System

April 5, 2004 (PLANSPONSOR.com) - The retirement plans services division of OppenheimerFunds Distributor, Inc., (OFDI) has unveiled a new 401(k) recordkeeping platform aimed at the small- to mid-sized segment of the market.

In addition to offering a multi-manager investment program with options from OppenheimerFunds and other fund families, the program will also offer Oppenheimer’s PartnerLink, a Web site which provides advisors and local third-party administrators the tools necessary to provide personalized administration to manage a client’s plan utilizing real time online access.

With PartnerLink, a TPA can access and approve all pending transactions by a participant online. Additionally, participants will have access to RecordKeeper Pro Online and will be able to utilize an online asset allocation program and investment calculators.

“At the end of 2003, the small to mid-sized retirement plan market place had in excess of 365,000 401(k) plans,” said John Stoma, Senior Vice President and Director of Retirement Plans at OFDI, in the news release. “By our best estimates, we calculate that over the next few years, close to 21,000 of those small business owners with plans representing nearly $24 billion dollars will seek to replace those plans with ones which will offer employees greater flexibility, and the ability to manage their accounts utilizing the next generation in technology.”