BISYS announced today that it has been selected by Ohio-based National City Corporation to support the firm’s balance forward retirement plans, which are retirement plans that are not valued on a daily basis. BISYS will support approximately 150 balance forward plans and their more than 12,000 plan participants, with a comprehensive suite of services, including contribution processing, periodic account valuation, participant statement generation, sponsor reporting, non-discrimination and compliance testing, and distribution processing.
“BISYS was awarded this business based on the quality and cost-effectiveness of our recordkeeping services, our cutting-edge technology, and our industry expertise,” says George Evans, executive vice president of business development for BISYS’ Investment Services group. “We believe BISYS’s recognized ability to provide high-quality retirement services regardless of plan size, combined with our standards of excellence, including accuracy, accountability, responsiveness, and commitment, will efficiently and effectively support this important new client.”
Christopher Guarino, president of BISYS’s Retirement Services, added: “We believe BISYS is uniquely positioned to support National City’s existing business and to help them achieve their growth goals in this segment of their retirement business. National City has traditionally been a strong player in its market and we are excited about entering this strategic relationship with them. We look forward to a long and mutually beneficial relationship with National City.”