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DIRECTORY OF 401(K) PLAN ADMINISTRATORS (PART TWELVE OF SIXTEEN)

Posted On: May. 4, 1997 12:00 AM CST

P
Parsons, McKee,
Sommers & Co.
2001 Crocker Road, Cleveland, Ohio 44145; 800-758-7588 or 216-871-8611; fax: 216-871-7485
Staff
Total40
Involved in 401(k) plan services24
Clients
Total261
Receiving unbundled services261
Average participants/plan240
Minimum participants/plan10
Maximum participants/plan25,000
1996 revenues
Total$2,725,000
401(k) plan administration$1,350,000
Services began: 1982.
Software: Leased from outside vendor, accommodates unlimited investment funds and unlimited types of contributions.
Administration: Cash, unit value and full share accounting. Accommodates loan provisions, performs 401(k) and 401(m) non-discrimination tests.
Client support: Daily valuations, toll-free service for account balance inquiries, toll-free service to request account activity, communication of plan features to employees. Consults on legal issues, plan design issues, compliance issues, employee communications. Other services include interactive retirement planning software for participants, Spanish toll-free access to daily services and multiple plan limitations administration.
Service area: Nationwide.
Locations: Administrative/consulting offices in Charlotte, N.C.
Charges: Determined by number of participants, complexity of plan, time and expense, frequency valuations.
Officers: John R. Parsons, chairman; Mark S. Sommers, president; Richard S. Wargo, senior vp/managing actuary; Donald N. Dalessandro, vp-defined contribution services; Jeffery T. Graves, vp-information systems.
Contact: Paul W. Catton (Charlotte, N.C.), 800-876-4140 or 704-556-0094.
TR Paul Inc.
14 Commerce Road, Newtown,
Conn. 06470; 203-426-8161;
fax: 203-270-0927
Staff
Total15
Involved in 401(k) plan services12
Clients
Total200
Receiving unbundled services180
Receiving bundled services20
Average participants/plan50
Minimum participants/plan1
Maximum participants/plan2,500
1996 revenues
Total$2,000,000
Services began: 1981.
Software: Leased from outside vendor, accommodates 99 investment funds and five types of contributions.
Administration: Cash, unit value and full share accounting. Accommodates loan provisions, performs 401(k) and 401(m) non-discrimination tests.
Client support: Daily valuations, toll-free service for account balance inquiries, toll-free service to request account activity, communication of plan features to employees. Consults on plan design issues, compliance issues, employee communications. Manages investment of 401(k) plan funds.
Service area: Nationwide.
Charges: Determined by number of participants, complexity of plan, time and expense, frequency valuations.
Officers: Robert L. Levy, president; Mary Ingram, vp/secretary; George Romer, vp.
Contact: Goerge Romer.
Pension Resources
401 N. Michigan Ave., Suite 2600, Chicago, Ill. 60611; 312-245-1740;
fax: 312-644-4423
Staff
Total24
Involved in 401(k) plan services18
Clients
Total350
Receiving unbundled services350
Average participants/plan60
Minimum participants/plan1
Maximum participants/planUnlimited
1996 revenues
Total$2,800,000
401(k) plan administration$1,600,000
Services began: 1980.
Parent: Friedman, Eisenstein, Raemer & Schwartz L.L.P.
Software: Leased from outside vendor, accommodates 25 investment funds and 20 types of contributions.
Administration: Cash, unit value and full share accounting. Accommodates loan provisions, performs 401(k) and 401(m) non-discrimination tests.
Client support: Daily valuations, toll-free service for account balance inquiries, toll-free service to request account activity, communication of plan features to employees. Consults on legal issues, plan design issues, compliance issues, employee communications.
Service area: Nationwide.
Charges: Determined by number of participants, complexity of plan, time and expense, frequency valuations.
Officers: Michael Schwartz, president/partner; Irwin Friedman, managing partner; Kevin Simpson, CFO.
Contact: Michael Schwartz.
Pension Review Services
45 Executive Drive, Plainview,
N.Y. 11803; 516-349-5500;
fax: 516-349-0015
Staff
Total10.5
Involved in 401(k) plan services3
Clients
Total55
Receiving unbundled services55
Average participants/plan50
Minimum participants/plan1
Maximum participants/plan500
Services began: 1990.
Software: Leased from outside vendor, accommodates eight investment funds.
Administration: Cash, unit value and full share accounting. Accommodates loan provisions, performs 401(k) and 401(m) non-discrimination tests.
Client support: Communication of plan features to employees. Consults on legal issues, plan design issues, compliance issues, employee communications.
Service area: Nationwide.
Charges: Determined by number of participants, complexity of plan, frequency valuations.
Officer: Benjamin E. Feller, president.
Contact: Sue Feller.
The Pentad Corp.
950 Winter St., Suite 1400, Waltham, Mass. 02154; 617-684-8400; fax: 617-684-8440
Staff
Total26
Involved in 401(k) plan services10
Clients
Total150
Receiving unbundled services150
Average participants/plan100
Minimum participants/plan1
Maximum participants/plan10,000
Services began: 1982.
Software: Written and maintained in-house, accommodates unlimited investment funds and unlimited types of contributions.
Administration: Cash, unit value and full share accounting. Accommodates loan provisions, performs 401(k) and 401(m) non-discrimination tests.
Client support: Daily valuations, toll-free service for account balance inquiries, toll-free service to request account activity, communication of plan features to employees. Consults on legal issues, plan design issues, compliance issues, employee communications. Other services include retirement modeling.
Service area: Nationwide.
Charges: Determined by number of participants, complexity of plan, assets under management, time and expense, frequency valuations.
Officers: Paul L. Chern, executive vp; Jonathan E. Flitter, partner/general counsel; John Buttrick, vp/treasurer; Gary A. Miller, vp/chief actuary; Richard S. Fitts, vp/client coordinator.
Contact: Richard Fitts.
Principal Mutual Life
Insurance Co.
P.O. Box 9397, Des Moines,
Iowa 50306-9397; 800-543-4015;
fax: 515-248-2118
Staff
Total16,142
Involved in 401(k) plan services2,255
Clients
Total22,655
Receiving unbundled services400
Receiving bundled services22,255
Average participants/plan52
Minimum participants/plan1
Maximum participants/planUnlimited
Services began: 1981.
Parent: The Principal Financial Group.
Software: Written and maintained in-house, accommodates 25 investment funds and six types of contributions.
Administration: Cash, unit value and full share accounting. Accommodates loan provisions, performs 401(k) and 401(m) non-discrimination tests.
Client support: Daily valuations, toll-free service for account balance inquiries, toll-free service to request account activity, online access, communication of plan features to employees. Consults on legal issues, plan design issues, compliance issues, employee communications. Manages investment of 401(k) plan funds. Other services include 5500 series filings and auditor's package; electronic reporting of plan data; enrollment meetings; plan documents and supporting material; retirement planning software; Internet access; automated voice response system; electronic linkage to multiple mutual fund families and PC tie-in.
Service area: Nationwide.
Locations: Administrative offices in Mason City and Waterloo, Iowa; Spokane, Wash. Consulting offices in 51 locations nationwide.
Charges: Determined by number of participants, complexity of plan, assets under management, frequency valuations.
Officers: David J. Drury, chairman/CEO; Theodore M. Hutchison, vice chairman; Ronald E. Keller, Charles E. Rohm, Ray S. Crabtree, J. Barry Griswell, executive vps.
Contact: Gary Dvorak, consultant.