The most common reason companies switch providers is poor service quality--that's why GEAM's Bundled Solutions Program is comprehensive, quality-driven and cost-effective.
BISYS's approach to plan administration and recordkeeping is to make plan administration successful for plan sponsors. BISYS manages the complete implementation of every plan - from the initiation of the conversion from the prior record keeper until all conversion data has been tested and verified.
BISYS's broad range of plan administration services includes:
GEAM recognizes that it's critical for plan sponsors and participants to take the greatest possible advantage of the benefits of the plan. That's why BISYS provides full ADP and ACP testing, in addition to numerous compliance tests. GEAM's relationship managers alert plan sponsors of any testing issues that need to be resolved and work with them to help find the appropriate solution.
BISYS also provides the necessary information for 5500 filing purposes.
An important component in GEAM's Bundled Solutions program is Trust Services, which is provided by MG Trust Company, LLC. Trust Service is designed to support a variety of plan-related activities such as:
- Trade settlement
- Accounting
- Daily accruals and pricing
- Safekeeping of portfolio assets
- Disbursements
- Tax withholdings
- Tax reporting
Regardless of how they choose to access their accounts, plan participants can obtain a wide variety of information concerning their plan and their own accounts - whenever it's most convenient.
GEAM and BISYS's online services provide participants with up-to-date plan specific information, such as: information on eligibility, contributions, investment options, loans and more. Participants can also log into their accounts to initiate transactions, such as fund transfers, contribution changes and loan requests.
In addition to transactional capabilities, each GEAM client participant site is designed to help participants make informed investment decisions by offering comprehensive investment education and retirement planning tools, as well as online courses and interactive events.
Online or by phone, GEAM and BISYS supports the needs of plan sponsors and participants 24 hours a day, seven days a week.