Reliance Trust Company Unveils New 401k Plan
ATLANTA, GA, February 11, 2009 -- Reliance Trust Company, a division of Reliance Financial Corporation, today introduced a new 401k plan aimed at plan sponsors with a minimum of $25 million in plan assets. Although Reliance already provides services for over 15,000 retirement plans today, this new product, known as Today's(k)
SM, focuses on highly personalized, one-on-one relationships between Reliance and plan sponsors. In fact, Reliance will only offer this particular retirement solution to a limited number of clients in order to guarantee its extremely high levels of service and support. In addition, Reliance can assume discretionary trustee responsibilities potentially reducing the liability on today's plan sponsor – perhaps the most attractive feature of the Today's(k)
SM offering.
"Today's(k)SM gives discriminating plan sponsors both excellent plan design and a flexible architecture to support their employees' retirement savings goals – and potentially reduce risk to their firm," said Anthony A. Guthrie, president and managing principal of Reliance Trust Company. "We have found that many plan sponsors are tired of the big-provider mentality where calls are routed to impersonal call centers and where plan sponsors never talk to the same person twice," said Guthrie.
Reliance has chosen The Newport Group, a leading retirement services and recordkeeping firm, to bring personalized service to plan participants. Series 6 licensed professionals will give employees timely communication and ongoing education about the Today's(k)SM plan and how to invest for their future retirement. As a testament to Newport's focus on service, it has again received "Best in Class" honors in PLANSPONSOR magazine's most recent Defined Contribution Survey. This annual survey of 6,100 plan sponsors rates customer satisfaction for defined contribution providers.
With a flexible architecture, Today's(k)SM features a diverse investment line-up including top performing pre-screened mutual fund options, low cost target-date exchange traded funds (ETFs), as well as its risk-based LifeStylesSM asset allocation strategies. Additionally, as an independent plan provider, Reliance is able to customize Today's(k)SM with unique investment alternatives, depending on each company's needs.
"Unlike many plan providers, our company has always been very flexible and able to add value for our clients," said Guthrie. "One of our value added services includes our Special Fiduciary Consulting Group that works with larger plan sponsors throughout the country. This experienced team of trust officers can help our clients implement solutions to guide them through the regulatory red tape. With Today's(k)SM, plan sponsors are able to customize a solution to meet their needs," he said.
About Reliance Financial Corporation
Reliance Financial Corporation is a privately held Atlanta-based diversified financial services and wealth management company with more than $59 billion in assets under management and administration. Reliance conducts business throughout the United States through its trust company (one of the largest independent trust companies in the country) and brokerage offices, investment advisory subsidiaries and insurance agency offices. Reliance offers a full array of outsourcing, wealth management, investment and trust and asset management services to individuals, corporations and institutions, as well as to other banks, brokerage firms and insurance companies. Please visit the Reliance Web site at www.relico.com for information on all of the company's programs and services.
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