Press Release

ICC Plan Solutions Launches Education Product for Addressing Mutual Fund Industry Issues

It's becoming impossible for plan participants to avoid reading about the investigations of the Mutual Fund industry - and the end is nowhere in sight.

CHARLOTTE, NC, December 1, 2003 -- ICC Plan Solutions today announced a new feature within their core education platform, Essential Investment Strategies. This latest addition is designed to communicate to defined contribution participants and address their specific issues with the mutual fund scandals and how it relates to their retirement savings plan.

This new communication initiative provides participants with timely and critical information and addresses three primary issues: 1) Their questions, concerns or doubts about mutual funds in general; 2) Questions or concerns about the specific mutual funds they own; and 3) Reassurance that their plan is taking these scandals seriously and is monitoring the plan's investment menu and provider in light of developments.

At the same time, with this new feature, plan providers and sponsors will provide participants with the confidence that they can continue to save money in the plan and pursue long-term retirement goals. It also explains and helps to emphasize the value of diversifying assets among several funds.

At a recent National Defined Contribution Council meeting in Washington, Anne Combs, Assistant Secretary of Labor in charge of ERISA enforcement, said that Sponsors have a "duty of inquiry;" in other words not doing anything is not an option.

The news reports of mutual fund trading impropriety are an obvious signal that fiduciaries can't afford to be complacent. Current fund offerings in a particular plan may not be in the headlines today. Whether they will be or not, the last thing fiduciaries want is to be caught in, however, is a scramble for the exits along with everyone else.

About ICC Plan Solutions

ICC Plan Solutions is an industry leader providing investment education programs to retirement plan participants in an effort to help them prepare better financially for their retirement. Essential Investment Strategies is a fully integrated education platform designed to assist employers in educating their retirement plan participants as well as documenting their educational training.

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