Society for Human Resource Management Selects RolloverSystems' Automatic Rollover Service; World's largest HR management association takes step to streamline retirement plan, gives employees power of choice when rolling over funds

Business Wire, Jan 31, 2006

CHARLOTTE, N.C. -- RolloverSystems, which pioneered the independent, automated 401(k) rollover platform, today announced it will provide automatic rollover services to employees of the Society for Human Resource Management (SHRM).

Within the past year, the retirement savings industry has experienced a distinct shift, with companies rapidly adopting automatic rollover services. This phenomenon is fueled by EGTRRA mandates that prohibit employers from cashing out $1,000-5,000 retirement plan accounts when an employee leaves the company. Instead, the law requires companies to automatically roll over the accounts to "safe harbor" IRAs. Many operationally-conscious organizations realize the inherent business value of automatic rollovers, as it can be costly and cumbersome to keep departed employees in the company's retirement plan.

RolloverSystems' automatic rollover platform streamlines the rollover process and reduces the cost of servicing these accounts. Unique in the industry, the RolloverSystems program also includes a choice-based voluntary rollover service to encourage and enable more automatic rollover candidates to select their own IRA and make an affirmative rollover decision.

With RolloverSystems' RolloverMarket(TM) platform, SHRM employees will be able to quickly fill out one electronic form and receive up to five competitive IRA offers from top investment companies for side-by-side comparison. Once they choose an IRA provider, employees can instantly roll their retirement accounts over to continue building their financial futures.

"It is an honor that the association is adopting the RolloverSystems platform for its own employees," said Reginald Bowser, founder and CEO of RolloverSystems.

RolloverSystems now provides its automated rollover service to more than two million employees through relationships with employers and retirement plan service providers. The company handles rollover transactions for 401(k) and other qualified plans, including 403(b), government 457, and eligible defined benefit and pension plans.

About RolloverSystems

RolloverSystems is the leading provider of outsourced retirement plan rollover services for financial institutions, plan sponsors, and HR technology companies. The company operates the only independent, objective platform that matches eligible retirement plan participants with a network of top-tier financial institutions offering rollover IRAs, including Fidelity Investments, Wachovia Securities, Charles Schwab, American Century, JPMorgan Chase and Neuberger Berman. For more information on RolloverSystems, please visit www.rolloversystems.com or www.rollovermarket.com.

About SHRM

The Society for Human Resource Management (SHRM) is the world's largest association devoted to human resource management. Representing more than 200,000 individual members, the Society's mission is to serve the needs of HR professionals by providing the most essential and comprehensive resources available. As an influential voice, the Society's mission is also to advance the human resource profession to ensure that HR is recognized as an essential partner in developing and executing organizational strategy. Founded in 1948, SHRM currently has more than 550 affiliated chapters and members in more than 100 countries. Visit SHRM Online at www.shrm.org.