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October 14, 2002 01:00 AM

[N] Profiles of the largest defined contribution providers

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    National City Corp. Retirement Plan Services

    1900 E. Ninth St., Cleveland, OH 44114; phone: (877) 622-5479; fax: (216) 222-7185; www.nationalcity.com

    RECORD KEEPING

    Total DC assets record kept ($ mil) 5,364

    For plans with:

    Fewer than 100 employees 758

    100-499 employees 956

    500-999 employees 848

    1,000-4,999 employees 642

    5,000-9,999 employees 471

    More than 25,000 employees 1,689

    No. of DC record-keeping clients:

    Corporate 401(k) 414

    Taft-Hartley 3

    403(b) 6

    Other DC 253

    % of assets under record keeping in:

    Proprietary investments 30%

    Outside investments 41%

    Self-directed brokerage/funds window 5%

    Company stock 22%

    Other 2%

    SERVICES PROVIDED:

    Discrimination testing

    Form 5500

    1099s

    State/federal tax withholding

    Prototype plan document

    Plan design

    Summary plan descriptions

    404(c) compliance

    Ongoing plan compliance

    Standardized education print materials

    Customized education print materials

    Standardized communications

    Customized communications

    Fund information

    Investment performance

    Finance/retirement planning materials

    Investment advice

    Employee meetings

    Employee one-on-one meetings

    Foreign-language materials

    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 - i

    QDROs form request - o

    Distribution - v-o-i

    Address change - o-i

    Questions on employee statement - o

    Questions on distributions - o-i

    Investment information - v-o-i

    Prospectus/statement requests - o

    Daily valuation - v-o-i

    INVESTMENT MANAGEMENT:

    Assets under management ($ millions):

    Total DC assets managed 1,500

    Internally managed DC assets 1,500

    In-house investment management services are provided through:

    Mutual funds

    Separate accounts

    Commingled funds

    Stable value/GIC

    Insurance annuities

    STAFFING:

    Record-keeping operations 63

    Compliance/testing/plan design 33

    Information technology 11

    Investment analysis/due diligence 11

    Dedicated conversion/installation 7

    Relationship managers 30

    Enrollment specialists 8

    Education/communication consultants 11

    National City Corp. Retirement Plan Services offers 23 fund families through its fund alliance structure, representing 87 funds.

    Client contact: Gary L. Warren.

    Nationwide Financial

    1 Nationwide Plaza, Columbus, OH 43017; phone: (800) 626-3112; fax: (614) 435-0174; www.nationwidefinancial.com

    RECORD KEEPING

    Total DC assets record kept ($ mil) 46,592

    For plans with:

    Fewer than 100 employees 13,180

    100-499 employees 7,970

    500-999 employees 3,023

    1,000-4,999 employees 6,777

    5,000-9,999 employees 2,169

    10,000-24,999 employees 1,401

    More than 25,000 employees 12,072

    No. of DC record-keeping clients:

    Corporate 401(k) 22,276

    Other 401(k) 2

    457 7,566

    403(b) 11,101

    Other DC 7,355

    % of assets under record keeping in:

    Proprietary investments 36%

    Outside investments 64%

    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

    Investment advice

    Employee meetings

    Employee one-on-one meetings

    Foreign-language materials

    SERVICES VIA VOICE-RESPONSE/

    OPERATOR/INTERNET

    Enrollment - o-i

    Contribution rate change - o-i

    Investment election change - v-o-i

    Transfer request - v-o-i

    Loan request/note preparation - o-i

    Rollovers - o-i

    QDROs form request - o-i

    Distribution - o-i

    Hardship withdrawal - o-i

    Address change - o-i

    Questions on employee statement - o-i

    Questions on distributions - o-i

    Investment information - v-o-i

    Prospectus/statement requests - o-i

    Daily valuation - v-o-i

    INVESTMENT MANAGEMENT:

    Assets under management ($ millions):

    Total DC assets managed 27,200

    Internally managed DC assets 11,900

    In-house investment management services are provided through:

    Mutual funds

    Separate accounts

    Commingled funds

    Stable value/GIC

    Nationwide Financial offers 35 fund families through its fund alliance structure, representing 310 funds.

    Client contact: Margaret Brinkman.

    New York Life Investment Management LLC

    51 Madison Ave., New York, NY 10010; phone: (973) 394-3000; fax: (973) 394-4632; www.nylim.com/retirement

    RECORD KEEPING

    Total DC assets record kept ($ mil) 7,241

    For plans with:

    Fewer than 100 employees 254

    100-499 employees 976

    500-999 employees 1,216

    1,000-4,999 employees 3,343

    5,000-9,999 employees 477

    10,000-24,999 employees 695

    More than 25,000 employees 280

    No. of DC record-keeping clients:

    Corporate 401(k) 1,123

    Taft-Hartley 14

    457 16

    403(b) 2

    Other DC 101

    % of assets under record keeping in:

    Proprietary investments 43%

    Outside investments 52%

    Company stock 5%

    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

    Investment advice

    Employee meetings

    Employee one-on-one meetings

    Foreign-language materials

    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 - v-o-i

    Distribution - v-o-i

    Hardship withdrawal - v-o-i

    Address change - o-i

    Questions on employee statement - o-i

    Questions on distributions - v-o-i

    Investment information - v-o-i

    Prospectus/statement requests - v-o-i

    Daily valuation - v-o-i

    INVESTMENT MANAGEMENT:

    Assets under management ($ millions):

    Total DC assets managed 17,331

    Internally managed DC assets 13,353

    In-house investment management services are provided through:

    Mutual funds

    Separate accounts

    Commingled funds

    Stable value/GIC

    STAFFING:

    Record-keeping operations 122

    Compliance/testing/plan design 52

    Information technology 44

    Investment analysis/due diligence 7

    Dedicated conversion/installation 20

    Total retirement outsourcing 21

    Relationship managers 32

    Education/communication consultants 17

    New York Life Investment Management LLC offers 35 fund families through its fund alliance structure, representing 500 funds.

    The parent company is New York Life Insurance Co.

    Client contact: Don Salama.

    Northeast Retirement Services Inc.

    69 Cummings Park, Woburn, MA 01801; phone: (781) 970-5009; fax: (781) 935-5059; www.neretire.com

    RECORD KEEPING

    Total DC assets record kept ($ mil) 750

    No. of DC record-keeping clients:

    Corporate 401(k) 195

    Taft-Hartley 2

    457 1

    403(b) 1

    % of assets under record keeping in:

    Outside investments 100%

    SERVICES PROVIDED:

    Discrimination testing

    Form 5500

    1099s

    State/federal tax withholding

    Prototype plan document

    Plan design

    Summary plan descriptions

    404(c) compliance

    Ongoing plan compliance

    Investment policy preparation

    Standardized education print materials

    Standardized communications

    Customized communications

    Fund information

    Investment performance

    Finance/retirement planning materials

    Employee meetings

    Foreign-language materials

    SERVICES VIA VOICE-RESPONSE/

    OPERATOR/INTERNET

    Investment election change - v-i

    Transfer request - v-i

    Loan request/note preparation - v-i

    QDROs form request - v-i

    Investment information - i

    Daily valuation - v-i

    STAFFING:

    Record-keeping operations 25

    Compliance/testing/plan design 1

    Information technology 2

    Dedicated conversion/installation 2

    Relationship managers 1

    Northeast Retirement Services Inc. offers 33 fund families through its fund alliance structure, representing 990 funds.

    Client contact: Mike Falivena.

    Northern Trust Retirement Consulting LLC

    3003 Summit Blvd., Suite 100, Atlanta, GA 30319; phone: (678) 259-6356; fax: (678) 259-6230; www.northerntrust.com

    RECORD KEEPING

    Total DC assets record kept ($ mil) 29,000

    No. of DC record-keeping clients:

    Corporate 401(k) 66

    Other DC 11

    % of assets under record keeping in:

    Proprietary investments 25%

    Outside investments 35%

    Self-directed brokerage/funds window 15%

    Company stock 25%

    SERVICES PROVIDED:

    Discrimination testing

    Form 5500

    1099s

    State/federal tax withholding

    Plan design

    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

    Investment advice

    Employee meetings

    Employee one-on-one meetings

    Foreign-language materials

    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 - o

    QDROs form request - o

    Distribution - v-o-i

    Hardship withdrawal - v-o-i

    Address change - o

    Questions on employee statement - o-i

    Questions on distributions - o-i

    Investment information - v-o-i

    Prospectus/statement requests - v-o-i

    Daily valuation - v-o-i

    INVESTMENT MANAGEMENT:

    Assets under management ($ millions):

    Total DC assets managed 29,000

    Internally managed DC assets 8,410

    In-house investment management services are provided through:

    Mutual funds

    Separate accounts

    Commingled funds

    Stable value/GIC

    STAFFING:

    Record-keeping operations 120

    Compliance/testing/plan design 33

    Information technology 101

    Investment analysis/due diligence 60

    Dedicated conversion/installation 45

    Total retirement outsourcing 90

    Relationship managers 7

    Enrollment specialists 100

    Education/communication consultants 9

    Northern Trust Retirement Consulting LLC offers an unlimited number of fund families through its fund alliance structure.

    The parent company is Northern Trust Corp.

    Client contact: Mike Hall.

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