24 February 2018
Visit www.capgemini.com/worldreports

Wachovia Retirement Services upgrades recordkeeping platform

20 July 2005  |  1593 views  |  0 Source: Wachovia Corporation

Wachovia Retirement Services (NYSE: WB) announced today that it has upgraded and enhanced its Wystar recordkeeping platform.

"These enhancements are part of our strong, ongoing commitment to the institutional retirement plan business," said Joe Ready, director of Wachovia Retirement Services. "We meet with our clients regularly to understand how we can advance our capabilities to help them address challenges in managing their company retirement plan. These latest enhancements streamline our clients' administrative process while offering convenient ways for participants to maintain an appropriate asset allocation until retirement."

Enhancements include:
  • Standard and Custom Reporting: Enables plan sponsors to initiate approximately 25 standard reports as well as the ability to create customized reports via the plan sponsor Web site.
  • Age-Based Investing: Offers the ability to set default funds based on a participant's age. As participants in the program age, they will automatically be moved through the age-based funds.
  • Participant Level Auto Rebalance: Provides the capability for participants to choose an option via the Internet or VRU to automatically rebalance their accounts according to their current investment elections on a periodic basis.

    According to the Wachovia Retirement Fitness Survey released earlier this year, nearly 80 percent of consumers say they could do a better job planning and saving for retirement. About 50% are emotionally distressed about retirement, expressing uncertainty, worry or fear of making a mistake.

    "Our goal is to provide sponsors with plans that make it easy and convenient for participants to save for retirement," said Keith Sykes, defined contribution product manager. "The Wystar enhancements complement and build upon Wachovia's existing suite of retirement services solutions. We continue to be extremely pleased with the flexibility and scale of our system, allowing us to enhance our defined contribution offering at no additional cost to plan sponsors and participants.
  • Comments: (0)

    Comment on this story (membership required)

    Related company news

     

    Related blogs

    Create a blog about this story (membership required)
    visit www.ebaday.comVisit www.vasco.comVisit http://info.nice.com

    Top topics

    Most viewed Most shared
    Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
    11660 views comments | 16 tweets | 10 linkedin
    hands typing furiouslySome Interesting Applications Of The Inter...
    10287 views 3 | 9 tweets | 1 linkedin
    Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
    8434 views comments | 15 tweets | 26 linkedin
    Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
    7978 views comments | 19 tweets | 10 linkedin
    R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
    7694 views comments | 10 tweets | 14 linkedin

    Featured job

    Competitive base + commission + benefits
    UK or Germany

    Find your next job