The Bisys Group's investment services division has won a contract to provide processing for a Banc One Corp. 401(k) retirement plan product.
Little Falls, N.J.-based Bisys will provide record-keeping and administrative services and marketing support to Banc One investment product, called the One Retirement Plan, effective Jan. 1. Banc One customers will be supported through Bisys' plan services operation located in Ambler, Pa. Financial terms of the outsourcing contract were not disclosed.
Bank officials said the One Retirement Plan targets companies with more than 150 employees. Bisys already provides record-keeping and administrative services for Banc One's small business 401(k) product.
"Our primary goal is to deliver the highest quality, service- oriented 401(k) product to our clients," said Geoff von Kuhn, senior managing director of national sales at Banc One's investment management and trust group. "We've been very pleased with the services Bisys has been providing for the One Advantage Retirement Plan. They are a leader in the processing field and are positioned to help us grow our retirement plan business."