ACS and Wealth Management Systems Inc.

Posted on
Share on Google+Share on LinkedInShare on FacebookShare on RedditTweet about this on TwitterEmail this to someone

<p><strong>Dallas &mdash; Nov. 16</strong><br />Affiliated Computer Services Inc. (ACS) announced that it will leverage the technology of Wealth Management Systems Inc. (WMSI) to offer an innovative suite of distribution options that allow retirement plan participants to research and select the financial institution to which they will roll over their retirement assets.<br /><br />The enhanced IRA and annuity services are available to companies with defined contribution plans and are the latest advancement in ACS&rsquo;s retirement administration capabilities. A natural expansion of the company&rsquo;s innovative human capital management solutions, the new ACS offering works jointly with client company Web sites to help plan participants evaluate a variety of IRAs, make a selection and open an IRA account in real time.<br /><br />&ldquo;Because employees continue to be increasingly mobile, making their retirement assets easily transportable is more important than ever,&rdquo; said Don Bartolai, ACS vice president, global benefits outsourcing, human capital management solutions. &ldquo;With this offering, we have created a centralized IRA marketplace, where participants can compare various IRA options and choose providers that meet their retirement needs. This allows plan sponsors and administrators to facilitate a simple decision-making process and allows participating employees to pursue a more secure retirement.&rdquo;<br /><br />Through cost-effective, real-time and paperless retirement account management, ACS&rsquo;s integrated Web-based interface, powered by WMSI, significantly enhances the support and services available to retirees or former employees when they need it most. The platform also provides retirees with the option of purchasing lifetime income annuities through Income Solutions, an annuity purchase program of Hueler Investment Services Inc. Income Solutions allows modeling of various immediate annuity scenarios, requesting quotes that reflect institutional pricing and selection of an annuity provider through a competitive quoting process.<br /><br />&ldquo;Navigating the typical IRA rollover process is a complex and time-consuming transaction for most participants,&rdquo; commented John Geli, chief executive officer of Wealth Management Systems Inc. &ldquo;ACS&rsquo;s state-of-the-art solution, driven by WMSI technology, not only automates the rollover process, but makes rollover services immediately accessible to participants at the plan level, empowering them to make better investment decisions regarding their long-term financial well-being.&rdquo; <br /><br />Bartolai added that by providing access to annuity decision-making tools and competitive annuity pricing via Income Solutions, ACS is helping participants avoid outliving their retirement assets. &ldquo;The steady income stream of a traditional pension plan is available to fewer and fewer employees today,&rdquo; he noted. &ldquo;Therefore, it is critical to provide the resources employees need to make smart retirement decisions that help them achieve their long-term retirement goals.&rdquo; </p>

Share on Google+Share on LinkedInShare on FacebookShare on RedditTweet about this on TwitterEmail this to someone


Posted in Archive|