BISYS says Century Business Services (CBIZ) has expanded its out-sourcing contract with the firm to include an additional 30 daily-valued 401(k) retirement plans, controlled by approximately 5,700 collective plan participants. BISYS has worked with CBIZ since September 2002, initially converting 224 retirement plans and 26,000 plan participants on to its recordkeeping platform.
BISYS supports CBIZ’s clients with 401(k) daily valuation recordkeeping services, including call centre services, interactive voice response (IVR) inquiry capabilities, customized communication materials, and sales support. BISYS also supports these clients with its SponsorinSightTM product, which provides Web-based access to plan- and participant-level information, reporting, and transaction processing capabilities.
“We expanded our relationship with BISYS based on the seamless conversion of 224 of our 401(k) retirement plans to its recordkeeping platform last year, and the high quality services that are now supporting these plans and plan participants,”says Robert A. O’Byrne, senior vice president of CBIZ and head of CBIZ’s Benefits and Insurance division. “Considering its industry expertise and extensive experience as a market leader in recordkeeping, we are confident BISYS will proactively and effectively support our key initiative to provide superior, customer-focused support to our retirement plan clients.”
Christopher Guarino, president of BISYS Retirement Services, added: “CBIZ’s decision to expand its relationship with BISYS further validates the comprehensive capabilities of our recordkeeping platform, our commitment to providing premier support services and state-of-the-art technology, and our overall approach to business.
We are fundamentally committed to supporting financial services firms like CBIZ with the expertise and the outsourcing solutions that are necessary to successfully compete and prosper in today’s sophisticated retirement marketplace. We look forward to the mutual growth opportunities we expect will be generated by this expanded relationship.”
CBIZ is a provider of outsourced business services to small and medium-sized companies throughout the United States. The company provides accounting and tax, employee benefits, wealth management, property and casualty insurance, payroll, IS consulting, and HR consulting services. CBIZ also provides valuation, litigation advisory, government relations, commercial real estate, wholesale insurance, healthcare consulting, medical practice management, worksite marketing, and capital advisory services. These services are provided throughout a network of more than 160 company offices in 33 states and the District of Columbia.