NU Online News Service, Dec. 18, 2003, 3:54 p.m. EST – Pershing L.L.C., Jersey City, N.J., has picked The BISYS Group Inc., New York, to support its Individual(k) retirement savings plan.[@@]
Sole proprietors can use the Individual(k) plans to contribute up to $40,000 per year to retirement savings accounts.
BISYS is handling administration and recordkeeping for the plans. BISYS also is providing professional product training, plan installation services, marketing and education materials, employer kits, prototype plan documents, and a variety of Web sites and Web tools for plan participants.
Pershing is a unit of The Bank of New York Company Inc., New York.