DST Retirement Solutions to Support New AARP 401k Offering
KANSAS CITY, MO, March 24, 2009 -- DST Retirement Solutions has been selected by AARP Financial Inc. (a subsidiary of AARP Services, Inc.) as the recordkeeping service provider for AARP Financial, Inc.'s newly launched, small business-oriented 401k retirement plans.
The 401k plans from AARP Financial Inc. are designed for small businesses, and include three types: a Traditional 401k program, an Automatic 401k program that offers auto enrollment and auto increase, and a Solo(k) for self-employed professionals. DST Retirement Solutions will provide recordkeeping and participant servicing for all three plans.
As part of its solution, DST Retirement Solutions developed an automated online plan setup tool for AARP Financial Inc. that enables employers to receive a quote for new plan services, as well as design and purchase a plan. DST Retirement Solutions offers one of the broadest arrays of high-value retirement plan servicing options for financial organizations distributing and serving their customers' retirement needs.
"DST Retirement Solutions is proud to play a role in AARP Financial's new offering to small businesses," said Jude Metcalfe, president, DST Retirement Solutions.
The plans are designed specifically for small companies and feature diversified investments, low fees, easy implementation and administration and toll-free access to AARP Financial's Financial Advisors, who offer retirement investment education to employers and employees.
"One of the most important benefits a company can offer its employees is a comprehensive retirement plan," said Richard "Mac" Hisey, president of AARP Financial Inc. "These plans give small business owners access to similar plans traditionally available only to larger firms.
"The team at DST Retirement Solutions impressed us with their ability to produce and customize new technology for our 401k offering," Hisey added. "We have confidence in DST Retirement Solutions' recordkeeping and participant servicing strengths."
About DST Retirement Solutions
DST Retirement Solutions, LLC, a wholly-owned subsidiary of DST Systems, Inc., offers one of the broadest arrays of high value retirement plan servicing options for financial organizations distributing and serving their customers' retirement needs. Financial service companies, such as mutual funds, banks, insurance companies and third party administrators, benefit from our flexible service model that utilizes an end-to-end technology solution and provides support for financial intermediaries. Servicing nearly 4 million participants, DST Retirement Solutions supports any plan size and investment vehicle.
About AARP Financial Inc.
Founded in 2005, AARP Financial Inc. is a wholly owned taxable subsidiary of AARP. AARP Financial is dedicated to helping people age 50 and over prepare for a more secure financial future by providing access to products and services designed to meet their retirement needs and supporting them with clear information and guidance. Visit us at www.aarpfinancial.com for more information.
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