Bionostics Uses Synapses Retirement Income Report Tool
CHARLOTTE, NC, August 20, 2007 -- Synapses Inc., a leading provider of personalized 401k education, products and services, today announced that Bionostics, Inc., a world-leading provider of quality control, calibration and calibration verification solutions for medical diagnostics, employed the Synapses Retirement Income Report tool in an effort to more deeply educate their employees on their 401k contributions and individual retirement needs.
Featuring a powerful combination of current and alternative 401k contribution options for Bionostics employees, the Synapses Retirement Income Reports allow employers to greatly enhance their 401k training programs. The reports can play a pivotal role in retirement savings - capturing a snapshot of one's contribution progress in order to set and meet savings goals.
"We saw that Synapses' Retirement Income Reports definitely prove to be a valued service that is welcomed by both the employee and the employer, allowing plan participants to get in tune with their life, the markets and their savings progress," said Janea Rozier, human resources manager at Deven, Massachusetts-based Bionostics. "The beginning template that Synapses provided was easily adapted to our needs and served as a flexible tool geared toward maximizing its benefit for us."
Rozier said Bionostics was extremely pleased with the Retirement Income Reports and that they spawned a demand for even further Synapses products. "In fact, its success brought us to the decision to soon use additional Synapses tools that allow some employees to also evaluate other assets outside of their 401k," Rozier said. "As a company that constantly strives to further its 401k education program, we're pleased to take this extra step employees appreciate and find useful for even deeper planning."
Using more than 10 years of experience in perfecting its Retirement Income Reports, Synapses has created a unique tool that goes far beyond typical analysis - combining unmatched functionality and usability. Custom "what if" spreadsheets for financial advisers and many other features distinguish Synapses from less innovative, costlier competitors.
"As a proactive Financial Adviser for Bionostics, I see underlying value in the Synapses reports due to its unmatched flexibility and potential for gaining new business," said Joe McLaughlin, a vice president of Morgan Stanley. "The Synapses Retirement Income Report stands as a stepping stone toward developing deeper relationships with not only the company but also its employees."
"Synapses continues to see great momentum with its Retirement Income Reports," said Jim Saunders, President of Synapses. "With companies such as Bionostics and others easily adopting the reports as part of their 401k education program, Synapses has repeatedly proven its flexibility and innovation in increasing employee awareness and plan participation, as well as greatly assisting organizations' financial advisers. We're pleased to provide Bionostics with the capability to show their plan participants the big picture for retirement and the many positive choices that can be made along the way. As we further our leadership in the industry, we continually strive to match our technology with the specific needs of each organization."
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 advisers 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.
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