The Bank of New York Retirement Services Division
The Centre at Purchase, 3 Manhattanville Road, Purchase, NY 10577; phone: (914) 253-0700; fax: (914) 253-0701; www.bankofny.com
RECORD-KEEPING
Total DC assets record kept ($ millions) 5,500
Percentage of assets under record keeping in:
Proprietary investments 20%
Outside investments 52%
Self-directed brokerage/funds window 1%
Company stock 25%
Other 2%
SERVICES PROVIDED:
Discrimination testing
Form 5500
1099s
State/federal tax withholding
Prototype plan document
Plan design
Customized plan documents
Summary plan descriptions
404(c) compliance
Ongoing plan compliance
Investment policy preparation
Standardized education print materials
Customized education print materials
Standardized communications
Customized communications
Fund information
Investment performance
Finance/retirement planning materials
Employee meetings
Employee one-on-one meetings
SERVICES VIA VOICE RESPONSE/OPERATOR/INTERNET
Enrollment - v-o-i
Contribution rate change - v-o-i
Investment election change - v-o-i
Transfer request - v-o-i
Loan request/note preparation - v-o-i
Rollovers - v-o-i
QDROs form request - o
Distribution - v-o-i
Hardship withdrawal - v-o-i
Address change - o
Questions on employee statement - o
Questions on distributions - o
Investment information - v-o
Prospectus/statement requests - o
Daily valuation - v-o-i
INVESTMENT MANAGEMENT:
Assets under management ($ millions):
Total DC assets managed 29,027
Internally managed DC assets 29,027
In-house investment management services are provided through:
Mutual funds
Separate accounts
Stable value/GIC
Other
STAFFING:
Record-keeping operations 51
Compliance/testing/plan design 11
Information technology 3
Investment analysis/due diligence 3
Dedicated conversion/installation 11
Relationship managers 6
Enrollment specialists 6
Education/communication consultants 4
The Bank of New York Retirement Services Division offers the following fund families through its fund alliance structure:
AIM, Alliance, American Century, Dreyfus, Federated, Fidelity Advisor, Enterprise, Franklin Templeton, Janus, Rainier, Dodge & Cox, T. Rowe Price, Neuberger Berman, J.P. Morgan, Baron, SAFECO, Chicago Trust, PIMCO, Gabelli, Montag & Caldwell, Goldman Sachs, Putnam and American Funds.
George R. Mazzella is client contact.
BISYS Plan Services
323 Norristown Road, Ambler, PA 19002; phone: (800) 345-6363; fax: (215) 542-1815
RECORD-KEEPING
Total DC assets record kept ($ millions) 10,800
DC clients:
Corporate 401(k) 5,389
Other 401(k) 659
SERVICES PROVIDED:
Discrimination testing
Form 5500
1099s
State/federal tax withholding
Prototype plan document
Plan design
Summary plan descriptions
Ongoing plan compliance
Standardized education print materials
Customized education print materials
Standardized communications
Customized communications
Fund information
Investment performance
Finance/retirement planning materials
Foreign-language materials
SERVICES VIA VOICE RESPONSE/OPERATOR/INTERNET
Enrollment - v-i
Contribution rate change - v-i
Investment election change - v-o-i
Transfer request - v-o-i
Loan request/note preparation - v-o-i
Rollovers - v-i
Distribution - v-i
Hardship withdrawal - v-i
Address change - v-o-i
Questions on employee statement - o
Questions on distributions - v-i
Investment information - v-i
Daily valuation - v-i
BISYS Plan Services offers the following fund families through its fund alliance structure:
AIM, Alliance, American Century, Arch, Baron, Branch Banking, Capital Research, Capital Guardian, Federated, Fidelity, Franklin Templeton, ISG, INVESCO, Kemper, Kent, MassMutual, MFS, One Group, Oppenheimer, Provident Mutual, Prudential, Putnam, State Street Global, Sentinel, Salomon Smith Barney, Van Kampen, Victory, Chase Vista, Zweig and Fleet Boston 1784.
Neil J. Smith is client contact.
