TRW's 401(k) grows up. (Information Management)

Financial Executive, March, 1994 by Steigerwald, Will

TRW Inc. was able to successfully reform its salary-reduction stock savings plan with the help of the right information technology. One of the areas in which improvements were needed was the HR department which was being addled with 401(k) responsibilities. As a remedy, four service representatives were hired, namely, a guaranteed investment contract manager, a trustee/investment manager, a recordkeeper and the stock savings plan office of TRW. Interfacing among these service providers can be accomplished through a daily processing network. A voice-response system was also installed to make timely information available to plan participants. With the help of information technology, transactions can now be held without paper and the stock savings plan was reduced by 33%. These...

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