PITTSBURGH, June 23, 2011 /PRNewswire/ -- Inspira formally announced the addition of a complete participant outreach program to its already robust suite of IRA rollover services for Financial Advisors, Third Party Administrators and Retirement Plan Sponsors.
This program enhancement now makes it even easier for Inspira's clients to clear plans of terminated participants, leading to lower plan costs, reduced fiduciary liability and the elimination of tedious work associated with locating missing participants.
The outreach includes marketing automatic rollovers to Plan Sponsors, including transmitting and collecting signed automatic rollover agreements. Inspira will also market IRAs to participants eligible for automatic or voluntary rollover from their 401(k). The notifications can also be modified for use in a retirement plan termination.
"This is a tremendous value add for our clients because of the work that it takes off their plate," said Lowell Smith, President of Inspira. "Now all our clients have to do is simply give us a file of eligible participants, and we take care of everything else. We will even take a file of our clients' plan sponsors and undertake the sending, tracking and collecting of automatic rollover agreements."
Once a plan sponsor signs the agreement, Inspira takes a list of eligible participants and sends one of two customizable notification letters to the automatic and voluntary rollover candidates.
The letters can be customized with the color scheme and logo of Inspira's client or that of the Plan Sponsor. Both parties can also make any changes they deem necessary and are given final approval before anything is sent. The notifications can also include distribution paperwork.
Once the notification letters are approved, the client's role is finished. Inspira will alert them when automatic rollover-eligible participants' funds need to be transferred.
"We believe this is a big part of the puzzle," said Ben Keen, Director of Business Development for Inspira and the architect of the outreach program. "Now we do everything for our partners, from start to finish, for automatic and voluntary rollovers, as well as plan terminations."
About Inspira: Located in Pittsburgh, Inspira provides IRA rollover solutions and retirement plan termination services to Plan Sponsors, Financial Advisors, Third Party Administrators and other Financial Services Professionals.
Contact: |
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Mark Fleckenstein |
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+1-412-440-6991 |
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SOURCE Inspira
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