M&T Bank Appoints BISYS Retirement Services As Pension Fund Record Keeper

BISYS Retirement Services has been appoibted by M&T Bank to provide recordkeeping and administration services for one of its retirement plans. BISYS says it will support M&T Bank with recordkeeping and administration services, including prototype plan design and maintenance, plan

By None

BISYS Retirement Services has been appoibted by M&T Bank to provide recordkeeping and administration services for one of its retirement plans.

BISYS says it will support M&T Bank with 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, 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’s 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, adds that the BISYS “relationship-based service model” suits the M&T Bank focus on small business and middle market clients. “Together, we are focused on consistently delivering a comprehensive range of innovative and tailored solutions,” he says.

A select group of M&T Bank’s existing retirement plans will transition to BISYS in early 2006.

BISYS currently provides retirement plan services to nearly 21,000 retirement plans with more than 1.8 million plan participants.

M&T Bank is a regional bank in the US servicing individuals, corporations, unions, not-for-profits and public entities. It is the principal subsidiary of Buffalo-based M&T Bank Corporation, a bank holding company, which has offices in New York, Pennsylvania, Maryland, Virginia, West Virginia, Delaware and the District of Columbia. As of 30 September 2005, M&T Bank Corporation had over $55 billion in assets and was one of the 20 largest bank holding companies in the United States.

«