Marshall & Ilsley Corp.'s 401(k) record-keeping division said it will roll out 24-hour-a-day account service to all its plan participants this year.
M&I Trust and Investment Management, a division of the $21.2 billion- asset Milwaukee banking company, plans to offer both Internet and call- center service to its 750 plan participants by the end of June, said Gary Bakker, a bank vice president and head of M&I's commercial trust division.
About 15% of M&I's customers already have access to their accounts on the Internet or can talk to a representative at M&I's call center, said Mr. Bakker. The division began signing up customers in September. M&I Trust is using the commercial bank's call-center representatives, who will be trained to answer retirement-related questions.
Services that will be available over the Internet include reallocating assets and changing deferral percentages, Mr. Bakker said.
M&I Trust administers $40 billion of assets, $24 billion of which is in retirement plans.