M&T Bank outsources retirement plan administration to Bisys

Source: Bisys Retirement Services

BISYS Retirement Services today announced that it has been selected by M&T Bank to provide recordkeeping and administration services for one of its retirement plan solutions in the $1 to $5 million market.

BISYS will support M&T Bank with its comprehensive suite of technology-driven retirement plan recordkeeping and administration services, including prototype plan design and maintenance, plan administration, forms and documents, customized marketing and sales support materials, reference resources, toll-free access to industry expertise and assistance, extensive Web and interactive voice response (IVR) inquiry capabilities, and Web-based planning tools and content.

According to Jim Olek, vice president of employee benefits product management for M&T Bank, "We strongly believe that M&T's presence in the small plan marketplace will be enhanced by BISYS' solid distribution support to financial advisors throughout the sales process, its expertise with the banking services, and industry-leading ERISA consulting group."

Bob Guillocheau, president of BISYS Retirement Services, said, "Our relationship-based service model is closely aligned with M&T Bank's commitment to the community, particularly for small business and middle market clients, and we look forward to building a strong, long-term relationship. Together, we are focused on consistently delivering a comprehensive range of innovative and tailored solutions."

A select group of M&T Bank's existing retirement plans will transition to BISYS in early 2006. BISYS is among the premier providers offering retirement plan administration and recordkeeping services to M&T Bank.

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