DAC Upgrades Web Site Services for Plan Sponsors and Participants

Overview of new reports and services available to 401(k) plan sponsors and plan paticipants via DAC's sites conneKt and interaKt

January 18, 2002

Mobile, Ala.--DailyAccess.Com announces upgrades to their online services. Improvements are as follows.
Improvements to conneKt, the plan sponsor's Web site for information exchange

§ New Report: Deferral Changes History: This new plan-level report is available on the conneKt Web site. It allows plan sponsors to see when participants request deferral changes (both percentage and dollar amount). The online report stays current for requests processed through both the secure participant Web site and the automated telephone information system. These reports can be narrowed using criteria such as social security number and/or a date range of requested deferral changes.

§ New Report: Transfer History Summary: A new plan-level report is available in conneKt, allowing plan sponsors to review participant transactions. The report summarizes which participants have recently altered their investment elections. The Transfer History Summary report gives details for participant changes for both the automated telephone information system and the interaKt participant Web site. Users can also "drill-down" to view the underlying transaction details.

§ Printer-friendly page support / download as Excel: Almost all reports in conneKt, and a few reports in interaKt are downloadable as Excel spreadsheets (including both plan and participant summary reports). Plan sponsors will see a new icon next to the title of each report. The icon link allows sponsors to either download the report (in spreadsheet format) or open a printer-friendly version of the report in a new window.

§ Validation of report criteria: DAC's validation criteria are improved for all reports generated using conneKt. Plan sponsors who search data by date ranges, dollar amounts, and other data now have greater flexibility and accuracy.

§ Select Employer / Division / Plan: Both the division identifier code and plan name are now displayed in the "Select Employer" screen. This improvement eliminates any confusion for similarly named divisions.

§ Cookie check improved on both the conneKt and interaKt sites: DAC enhanced testing to ensure that cookies are enabled. If a user attempts to log on to either Web site and does not have cookies enabled, the DAC system alerts them to the requirements. This upgrade keeps DAC in pace with updates and changes in many popular browsers.

Improvements to interaKt, the participant's plan connection

§ interaKt now offers a new on-demand report for participants. The report "Investment Elections by Percentages" gives a quick look at how monies are invested. Many participants decide where to invest, then months later, they don't really remember what percentage they allocated into each fund. Prior to the upgrade, participants had to navigate three clicks to find this frequently used information. This upgrade makes the report one click away.

§ Loan modeling provides options and increased accuracy: Loan modeling is an important aspect to DAC Internet and telephone participant services. The new enhancement provides an amortization schedule based on repayment frequency instead of monthly amortization. When modeling a loan or requesting loan paperwork in interaKt, the amortization schedule is now more accurate.

Founded in Mobile in 1995, DailyAccess.Com, Inc. (DAC), is a national provider of retirement plan products. DAC's retirement plan service platform includes all the operating functions that deliver the highest quality, most efficient retirement plan administration and processing services in the industry. DailyAccess manages recordkeeping, administration, compliance, trading, custody, information access systems, mutual fund company relationships, sales support and customer service. The firm's growth and success is directly linked to its success in partnering with select financial advisers and financial firms to develop and distribute market-proven products. Since DailyAccess does not provide proprietary asset management services, clients can be assured that plan sponsors and their financial advisers have the ability to objectively select the appropriate investment options for each plan.

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For additional information please contact
Linda Schipman, Public Relations Manager
251.665.1930 (phone) 251.665.1802 (fax)
linda_schipman@dailyaccess.com