New York, NY (PRWEB) October 17, 2012
Designed with job changers and retirees in mind, Rollover Central is an integrated plan service that enables plan sponsors and retirement plan providers to educate exiting employees about distribution options so they can make better, more informed decisions about their retirement savings. For those deciding to roll over to an IRA, Rollover Central enables users to quickly and easily compare multiple product options from IRA providers in a side by side comparison to evaluate special offers, investment services and fees and help users select the option that is right for them. User friendly screens and new Learning Center and How It Works sections help users get answers to their specific questions whether they are rolling over for the first time, changing jobs or getting ready to retire.
“Most participants who initiate rollovers through our applications tend to visit and gather information at least twice before transacting,” said John Geli, CEO of WMSI. “We added the new SAVE and EMAIL capabilities to encourage users to review and compare IRA options online and to share information with spouses and others who they may consult with when making financial decisions. We see these features and the new design of the IRA Marketplace as putting more control and choice into the hands of our users as they evaluate their options and make distribution decisions about their retirement savings.”
A key component of Rollover Central is WMSI’s connectivity with recordkeeping partners providing participants with a seamless and time-efficient means to process rollovers at the plan level.
“Participants have important choices to make about their retirement savings when they leave their company and appropriate education and information about the options – presented in an unbiased, trusted manner – is critical to their long term financial success,” said Lisa Chu, Aon Hewitt Defined Contribution Product Development Leader. "While many participants choose to remain in their plan, others roll over into another plan or an IRA. For those participants, we want to give them the tools to make a smart decision that's easy to implement. Today, 55% of our clients offer Rollover Central to their exiting plan participants.”
“As more baby boomers retire, employers are placing a renewed emphasis on retirement transition support,” said Dave Tolve, Mercer’s Outsourcing Product Leader. “Many of our clients offer Rollover Central as a means to educate and service employees who are exiting the plan so that balances remain invested for retirement and through the draw-down phase of their investment lifecycle.”
WMSI has over 40 network clients utilizing its rollover platform and is connected to recordkeepers servicing over 12 million participants. WMSI is projected to process over $3 billion in participant rollovers by year end 2012.
About Wealth Management Systems Inc.
Wealth Management Systems Inc. (WMSI) is the leading provider of technology based rollover services in the retirement services industry. WMSI’s Rollover Central® platform significantly streamlines the rollover process for participants while addressing the unique needs of plan sponsors, IRA providers, financial advisors and TPAs/Recordkeepers.
Additional information about WMSI is available at http://www.wealthmsi.com