Brasseler USA Sees Employee Contribution Increase With Retirement Income Report Tool
CHARLOTTE, NC, June 11, 2007 -- Synapses Inc., a leading provider of personalized 401k education, products and services, today announced that Brasseler USA, a Savannah, Georgia-based provider of leading dental instrumentation products, selected the feature-rich Synapses Retirement Income Report tool as part of the Company's ongoing 401k employee education and training program. The Synapses reports drastically increased contributions to Brasseler's plan and began automatic contribution escalation programs for many of its participants.
By providing customized reports illustrating current and alternative 401k contribution options for each employee, the Synapses Retirement Income Reports address one of the most vital aspects of retirement savings -- providing employees with the knowledge they need to set and meet savings goals, as well as clearly understand current progress.
With more than 10 years of experience in perfecting its Retirement Income Reports, Synapses has created a unique tool that goes far beyond typical gap analysis -- combining exceptional cost-effectiveness with unmatched functionality and usability. Personalized response cards, custom "what if" spreadsheets for financial advisors, and many other features distinguish Synapses from competitors.
All 500 Brasseler USA employees received the powerful, easy-to-follow Retirement Income Reports, and many took advantage of one-on-one meetings with Brasseler's financial advisors to discuss their specific gap analysis. All one-on-one meetings resulted in a more effective reallocation of individual investments within the plan and, in many cases, a two percent annual increase in elective deferrals -- thanks to the Synapses "what if" spreadsheet -- drastically increasing the plan's size and success.
"Combined with other features of our employee 401k education efforts, Synapses' Retirement Income Reports and 'what if' spreadsheets clearly help bring continued and increased plan participation -- directly spawned by the much-needed knowledge it provides employees," said Paul McMillan, director of human resources at Brasseler USA. "At Brasseler, we highly value investing in our employees. With our financial advisors using the time-tested Synapses Retirement Income Reports, we saw an immediate impact, with more money going into our plan, more informed employees diversifying and increasing elections, and with more employees set to yield larger returns. It's a clean-cut example of the value in investing in your employees and their 401k education. Synapses stands as a driving force and important tool in providing ongoing, truly customized education for plan contributors."
"Companies such as Brasseler USA are taking 401k participant education to a uniquely new level through advanced, customized gap analysis tools only available through Synapses," said Jim Saunders, President of Synapses. "Plan participants are now able to see the big picture for their retirement goals and the numerous scenarios leading far into the future -- a highly valued tool that consistently pays off. Brasseler's success speaks for itself and underscores Synapses' leadership in innovation and attentive dedication to results-oriented education tools based on years of expertise."
About Synapses
Synapses Inc. is a leading innovator in personalized 401k education, products and services. Providing comprehensive process analysis, custom software design and implementation, as well as personalized education product development and delivery, Synapses has produced hundreds of thousands of individual personalized 401k education reports. By offering 401k providers, sponsors and financial advisors customized products, Synapses uses a proprietary product delivery infrastructure to provide astoundingly effective education that offers unique scalability to meet the demands of the retirement services market. Founded in 2005, Synapses is headquartered in Charlotte, North Carolina. For more information, please call 704-321-4747 or visit the Synapses Web site at www.synapses.com.
###
Click here for more material dealing with current trends, opinion, news, legislative action, investments, marketing, sales, consulting, and legal issues on 401k plans.
This is a press release provided by the company or its representatives. 401khelpcenter.com, LLC is not the author of this release and is not associated or affiliated with any firm or organization mentioned unless otherwise noted. Use of any information obtained from this release is voluntary, and reliance on it should only be undertaken after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by 401khelpcenter.com, LLC.
