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Technological Vision Background & Philosophy Our Team Client & Partners Press Room Contact Us Wealth Management Systems Provides a Direct Rollover Processing Solution for Mandatory Distributions Under $5,000 Holgate, NJ (November 1, 2004) - Wealth Management Systems Inc. (WMSI), a leading provider of rollover solutions and technology services within the financial industry, announced today an automated rollover solution to facilitate the transfer of mandatory distributions into individual retirement accounts. Leveraging the Rollover Solutions Network (RSN) application, WMSI provides plan sponsors and administrators with the means to develop an end-to-end solution for servicing mandatory distributions and facilitating the bulk transfer of participant accounts under $5,000. Through the Network, plan sponsors as fiduciaries gain access to a choice of IRA providers and investment funds providing flexibility in the structure of their automated IRA programs and the ability to comply with safe harbor regulations. Utilizing RSN, Wealth Management Systems: •  Coordinates with plan administrators to identify targeted participant accounts. •  Facilitates the transmission of bulk participant data between recordkeeping and new IRA account opening systems. •  Establishes new IRA accounts with the IRA provider. •  Conveys distribution and new account opening data to the record keeper. •  Generates a final payment file for the electronic transfer and allocation of participant funds within the new IRA accounts. In addition to these services, RSN can also automate mailings to notify participants of automatic distribution procedures and new IRA account openings. "RSN makes mandatory distributions feasible to administer because it strikes a balance between administrators desire to preserve retirement savings and the need to automate IRA account openings within a cost-effective service model", said Tom Loch, President of Wealth Management Systems Inc. "With RSN, plan sponsors can establish automatic rollover programs for balances under $5,000, and substantially reduce plan administrative costs that typically range from $45 to $150 per participant for each year the balances would otherwise remain in the plan." RSN provides a venue for IRA providers to gain access to a volume network of distributions and expand their targeted customer base by offering a choice of competitively priced IRA products and services. About Wealth Management Systems Inc. Wealth Management Systems Inc. (WMSI) is the leading provider of technology based rollover products and services within the retirement industry. WMSI's Rollover Solutions Network integrates the processing platforms of Third Party Administrators and IRA providers, enabling exiting employees to effect their distributions and open IRA accounts in a single, real time transaction. Through RSN, financial institutions are able to further asset retention initiatives and gain access to a volume distribution network. TPAs and Plan Sponsors are provided with comprehensive distribution and rollover processing services that can significantly reduce administrative burdens and operating costs. And Participants gain access to the comprehensive IRA and annuity services they are seeking as they make distribution decisions that will effect their long term financial well being. The Rollover Solutions Network is quickly becoming the industry standard for rollover processing and currently services over 1 million participants within Call Center and Participant Website applications. WMSI also offers the only complete, fully automated EGTRRA rollover solution that satisfies Safe Harbor Provisions and provides for participant notifications and the administration of Plan Sponsor and IRA Provider automatic rollover agreements. Additional information about WMSI and all rollover product solutions is available at www.wealthmsi.com. Back to Press Room Press Release Archives Looking for a press release? Please select from the archives below: Press Room 2006/2007 Press Room 2005 Press Room 2004 Press Room 2003

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