That is as a result of an agreement between SunGard and ProNvest, a retirement plan money manager. According to a news release, the ProNvest services will be offered through SunGard’s OmniPlus DC recordkeeping system.
The participant can take a survey based on current contributions and investment goals and can then use the customized, funds-specific portfolio, which is directly linked to OmniPlus. In addition, the participant may also elect to have ProNvest manage their account. Plan sponsors, plan providers, and participants can do paperless, online 401(k) rollovers and other financial transactions with the new capabilities.
ProNvest offers plan participants and sponsors the opportunity to access investment education at no cost to the plan, plan participant or plan sponsor. SunGard said it has also beefed up its Internet plan administration product, MyPlansOnline, with access to the ProNvest services.