Millennium Trust Company Joins with The Keane Organization to Offer a Wide-Range of Plan Termination and Missing Participant Solutions
Oak Brook, IL, September 25, 2009 --(PR.com)-- Millennium Trust Company, announced it is entering into a strategic relationship with search expert, The Keane Organization to address plan sponsor challenges. With revenues and profits tough to come by, retirement industry professionals face increased pressure to reduce costs including those associated with retirement plans. Dealing with missing plan participants in both active and terminating plans has become a costly challenge. Plan sponsors may fulfill their fiduciary obligation to participants by providing rollovers into IRAs, when facing the difficult task of locating missing participants, or beneficiary.
Millennium Trust and The Keane Organization will help plan sponsors address the challenges of locating missing participants. Together we leverage the strengths of both companies to provide customers with an automated, one-stop solution for plan terminations and missing participant resolution.
Focused on streamlining and simplifying the experience for both plan sponsors and participants, the solution automates the rollover process and ensures compliance with Department of Labor regulations and EGTRRA. Millennium provides a rollover vehicle for missing participants that will be run through Keane`s location services. Millennium`s leading edge technology and customized operational support helps make it seamless for plan sponsors to protect former employees' retirement savings, and at the same time, minimize administrative costs and address the fiduciary responsibilities for the plan sponsor.
"The agreement between Millennium and Keane is an important step forward in providing a comprehensive plan termination process for plan sponsors," stated Terry Dunne, SVP, Automatic Rollovers, Millennium Trust Company, LLC. "Keane is ideal for this because they offer a full range of legal and compliance support and missing participant location services in a way that complements our automatic rollover services."
"Combining our unique capabilities, the new program with Millennium streamlines the process by which plan sponsors can terminate retirement plans, make contact with as many participants as possible, and then rollover participant accounts into IRAs for missing participants," says Mary Steigerwalt, President of Keane Retirement Services. "Our new relationship with Millennium will enhance the service offerings of our firms, empowering us with the capability to address all levels of the plan termination and missing participant rollover process."
About Millennium Trust Company
Millennium Trust leads the industry in administrative and custodial services. Millennium custodies alternative and traditional assets in Self-Directed IRAs and Solo 401(k)s, creates customized Automatic Rollover programs, provides integrated Health Savings Account solutions, designs unique trading platforms for Investment Advisors, and custodies 403(b) plans. It custodies more than 55,000 IRA Accounts. For more information about Millennium Trust, please visit www.mtrustcompany.com
About Keane Retirement Services and The Keane Organization
Keane Retirement Services simplifies the administrative complexities of defined benefit and defined contribution plans. We help plan sponsors, third party administrators, and record keepers stay compliant with ERISA and Department of Labor guidelines while navigating challenges such as communicating with missing participants, managing terminated or abandoned plans, and implementing cost reduction strategies for ongoing plans.
The Keane Organization provides compliance and risk management solutions that help companies mitigate regulatory, operational and financial threats across the enterprise. Keane`s solutions allow business leaders to measure, manage and monitor these threats in a way that produces measurable return on investment. For more information on Keane Retirement Services, please visit us at www.KeaneRetirement.com For more information about Keane, please visit us at www.KeaneCo.com
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Millennium Trust and The Keane Organization will help plan sponsors address the challenges of locating missing participants. Together we leverage the strengths of both companies to provide customers with an automated, one-stop solution for plan terminations and missing participant resolution.
Focused on streamlining and simplifying the experience for both plan sponsors and participants, the solution automates the rollover process and ensures compliance with Department of Labor regulations and EGTRRA. Millennium provides a rollover vehicle for missing participants that will be run through Keane`s location services. Millennium`s leading edge technology and customized operational support helps make it seamless for plan sponsors to protect former employees' retirement savings, and at the same time, minimize administrative costs and address the fiduciary responsibilities for the plan sponsor.
"The agreement between Millennium and Keane is an important step forward in providing a comprehensive plan termination process for plan sponsors," stated Terry Dunne, SVP, Automatic Rollovers, Millennium Trust Company, LLC. "Keane is ideal for this because they offer a full range of legal and compliance support and missing participant location services in a way that complements our automatic rollover services."
"Combining our unique capabilities, the new program with Millennium streamlines the process by which plan sponsors can terminate retirement plans, make contact with as many participants as possible, and then rollover participant accounts into IRAs for missing participants," says Mary Steigerwalt, President of Keane Retirement Services. "Our new relationship with Millennium will enhance the service offerings of our firms, empowering us with the capability to address all levels of the plan termination and missing participant rollover process."
About Millennium Trust Company
Millennium Trust leads the industry in administrative and custodial services. Millennium custodies alternative and traditional assets in Self-Directed IRAs and Solo 401(k)s, creates customized Automatic Rollover programs, provides integrated Health Savings Account solutions, designs unique trading platforms for Investment Advisors, and custodies 403(b) plans. It custodies more than 55,000 IRA Accounts. For more information about Millennium Trust, please visit www.mtrustcompany.com
About Keane Retirement Services and The Keane Organization
Keane Retirement Services simplifies the administrative complexities of defined benefit and defined contribution plans. We help plan sponsors, third party administrators, and record keepers stay compliant with ERISA and Department of Labor guidelines while navigating challenges such as communicating with missing participants, managing terminated or abandoned plans, and implementing cost reduction strategies for ongoing plans.
The Keane Organization provides compliance and risk management solutions that help companies mitigate regulatory, operational and financial threats across the enterprise. Keane`s solutions allow business leaders to measure, manage and monitor these threats in a way that produces measurable return on investment. For more information on Keane Retirement Services, please visit us at www.KeaneRetirement.com For more information about Keane, please visit us at www.KeaneCo.com
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Millennium Trust Company
Diane Pressley
630.368.5614
http://www.mtrustcompany.com
Diane Pressley
630.368.5614
http://www.mtrustcompany.com
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