In a move to increase
distribution to defined contribution retirement plans, National Life Insurance Company
has hired BISYS
) to provide recordkeeping for its fund group, the Sentinel Funds. The new package will target companies that have between 50 and 500 employees.
"With the introduction of this 401(k) program, National Life will expand its presence in the fastest growing 401(k) market and will build additional distribution for the Sentinel Funds," stated Joe Rob
, chief executive officer of Sentinel Financial Services Company
Prior to this move, National Life had only utilized BISYS's Insurance Services. Now, the contract with BISYS's Plan Services adds a new component to the relationship. "The broad array of value-added services provided by BISYS' complementary divisions supports our belief that we have a unique capability to meet our clients' needs," said Al Shemtob
, president of BISYS Plan Services.
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