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And Our No Fees 401k

1 The Wall Street Journal describes 401k Easy as the "Quicken" of 401k plans for small businesses

The Wall Street Journal recommends Pension Systems Corporation's unique "self-service" 401k design as an easy-to-use, inexpensive solution for small businesses that want to offer employees a 401k plan. The WSJ article compared this 401k for small businesses to Quicken as an affordable and easy-to-use accounting and invoicing solution for small businesses. To view the WSJ article and press release, please click here.

2 No Fees 401k based upon U.S. Patent 6041313

Pension Systems Corporation holds the United States Patent 6041313 for its highly regarded self-service 401k technology. The invention specialized in 401k plans for small businesses. PSC's patent re-configured the traditional 401k administration process. In the conventional 401k plan administration model, a company's 401k assets are all co-mingled and pooled together, and the conventional 401k administrator tracks each participant's holdings within the commingled asset pool. Pension System's unique design does not combine or co-mingle participants' 401k assets. Instead, it uses separate self-directed brokerage accounts to maintain and track participants' investments.

3 The Wall Street Journal article describing 401k Easy and the joint 401k Easy / Union Bank press release

(Summary) In conjunction with Union Bank of California, Pension Systems Corporation developed 401k Easy Online, a web-based 401k plan administration service based upon the success of the 'run-it-yourself' pc-based 401k Easy.


Reprinted from THE WALL STREET JOURNAL.

Web Helps Small Firms Start 401ks

YOUR MONEY MATTERS

By JEFF D. OPDYKE

Staff Reporter of THE WALL STREET JOURNAL

Tom Hendricks's employer recently adopted a 401k retirement plan for him and his colleagues. Big deal, you say? Well, it is. Mr. Hendricks and the 13 managers who oversee trust-fund operations for a California union have never had access to the hugely popular retirement accounts because of the expense and complexity of running them.

Now, though, cheap and efficient technology is changing those notions. Easy-to-use software and low-cost, back-office support - much of it available online - are opening retirement-savings benefits to an estimated 27 million small-business workers who don't have retirement plans. It's also allowing companies with inflexible and meager plans to upgrade to more appealing, full-blown 401k by pushing down administrative costs and challenging the idea that small-business owners can't manage the rule-bound accounts. (more available from WSJ)


For Immediate Release

James Gilbert
President, Pension Systems Corporation
(800) 660-0050
http://www.401k-network.com
CONTACT:
Sharon Woodson-Bryant, Union Bank of California
(213) 236-4145;
sharonw.bryant@selectbenefit.com
Donna Ross, Union Bank of California
(818) 662-1300;
donna.ross@selectbenefit.com
http://www.ubocez401k.com

Union Bank of California, N.A., Pension Systems Corporation, Launch Web-based 401k Administration Service for Small Businesses

LOS ANGELES Union Bank of California (UBOC), N.A., and Pension Systems Corporation have jointly developed a web-based 401k plan administration service based upon their existing desktop product. The service allows clients to set up and manage low-cost, option-rich "run-it-yourself" 401k plans from any location connected to the Internet — be it via computer terminal, web-enabled mobile phone or PDA device; access via a toll-free automated voice response system is also available. Like the desktop product, the system is geared particularly toward serving small businesses of one to 100 employees.

The new online service called 401k Enginuity (www.401kenginuity.com) affords employers plan-specific, convenient access and rapid processing of data and information requests relating to all areas of 401k administration activity, including point-and-click plan compliance testing with results potentially in seconds. Other features include participant account access, investment education materials and enrollment seminars via web casting. (More Available from UBOC)

4 No Fees 401k is a subsidiary of Pension Systems Corporation, Los Angeles, California.