Products March 11, 2002
SSB Upgrades Benefits Web Site
November 15, 2001 (PLANSPONSOR.com) - Salomon Smith Barney (SSB) enhanced its Benefit Access Web site for participants and administrators of employee benefit and compensation plans.
Reported by Camilla Klein
Among the new features for plan participants are:
- a combined benefit statement that consolidates information for multiple SSB-administered benefit and compensation plans, providing one snapshot of plan positions, and
- financial planning tools, including new calculators for retirement, asset allocation, education funding, stock option and wealth tax issues,
And for plan sponsors,
- online access to both plan and participant information,
- an online tool that allows the online submission and retrieval of plan, participant and company reports,
- an Internet solution that provides educational materials and contact information on employee benefits to displaced employees in times of change.
Other enhancements, specifically designed for employee stock plans, include:
- the electronic delivery of confidential account activation credentials to plan participants,
- online vesting schedules,
- conversion of US dollar proceeds to local currency for participants in more than 25 countries, and
- the ability to electronically certify Internal Revenue Service forms online.