State Street Gives Retirees Access to Financial Information
January 18, 2007 (PLANSPONSOR.com) - State Street
Corporation has come out with a Web-based tool, mypenpay.com,
that gives retirement plan participants direct and secure
access to personal payment information and account
transactions.
Reported by Adrien Martin
According to a company press release, State Street will provide online 1099R tax forms instead of participants having to call a benefits administrator for lost forms.
Also, the Automated Stop and Reissue function allows participants to initiate a stop payment on checks that remain outstanding for a minimum amount of days from the payable date as determined by the plan sponsor, and the Online Check Images feature provides retirees with the ability to view a front-and-back image of a paid check issued within the prior 18 months.
« Survey Finds IRAs not a Primary Retirement Savings Vehicle