STATE STREET RESEARCH ADDS PLAN SPONSOR INTERNET ACCESS SERVICE
BOSTON, MA, April 24, 2001- State Street Research has launched Plan Sponsor
Web Connect, an Internet access service which allows plan sponsors to view
specific plan information virtually 24 hours a day, 7 days a week.
From the firm's retirement web site, www.ssrretirement.com, plan sponsors
will have access to a password protected site where they can obtain all data
relating to their plan and its participants. The six main menu options
include:
- Plan Summary -provides information on the current value of the
entire plan, Plan Administrator name and number of employees on the
recordkeeping system.
- Additional Plan Details -s hows a breakdown of employees according to
status (eligible, eligible contributing, terminated, retired, etc.).
- Plan Investments - lists the available investment options in the plan.
- Plan Assets - lists the total assets in each investment vehicle for
the entire plan. Assets can be sorted by vehicle value (highest to lowest)
or by money type (Elective Deferral, Employer Match, etc.).
- Participant Summary - provides information on the individual
participants including participant name and status, portfolio values and
vested values. Plan sponsors can also access allocation information,
transaction history and withdrawal information.
- Change Password - allows plan sponsors to change individual passwords
to access the service.
"This addition to our retirement website enables plan sponsors to retrieve
the information they need, when they need it," said Kevin Wilkins, Executive
Vice President, Head of State Street Research Investment Services. "Through
this service, they'll be able to quickly ensure that contributions are
allocated in a timely manner, verify participant information and track
participation rates-they will have all of the information at their
fingertips."
State Street Research & Management Company, with a money management history
dating back to 1924, is one of the nation's first investment management
organizations. The Boston-based firm is a subsidiary of MetLife, one of the
world's largest financial services companies. As of February 28, 2001,
State Street Research managed $51 billion in assets, of which over $33
billion represented institutional clients and $18 billion represented mutual
fund and variable annuity portfolios. The firm manages money for 11 of the
15 largest U.S. corporate pension plans (as reported in the 2001 Money
Management Directory), union programs, public employee pension plans, mutual
funds for over 530,000 shareholder accounts, as well as individually managed
accounts for affluent investors. The firm's Web site address is
www.ssrfunds.com.
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