New 401 (k) Program Offers Top Investment Options & Customized Plans

The New York Bankers Service Corporation (NYBSCO) and Milliman, Inc., a leading provider of retirement plan services, have developed an attractive, affordable and reliable 401 (k) program for New York Bankers Association Member Banks and their employees. The plan includes access to a state-of-the-art, Web-enabled system and best-in-class investment options at low expense levels, so participants realize better investment returns. Each participating bank can choose its own plan provisions and investment options that include mutual funds, institutional share class funds, company stock and model portfolios. The program provides participating employees with instant access to benefit information, including retirement information and tools that give participants the opportunity to estimate future retirement benefits. Milliman, which has serviced NYBA’s Pension Plan for more than 10 years, provides services for some 4,000 retirement plans, representing more than two million participants.

For further information, please call Randy Broscious of Milliman at (518) 514-7100, e-mail:  randall.broscious@milliman.com., or NYBA’s Gus Kananis at (518) 434-3556, e-mail: gkananis@nyba.com.

Bank Employee Benefit Insurance Plans

Superior quality Employee Benefits coverages are available to members at lower cost than banks can usually find on their own. Dividends are also available under some plans, with the 10-year performance at over $4 Million and nearly $180,000 paid under the Group Life and NY-DBL programs in 1999.

• Freedom of Choice Dental PlanGroup

• Life and AD&D

• Optional Life Insurance for Employees

• Executive Supplemental Life and AD&D

• Dependent Life Insurance

• Directors Life Insurance

• Personal Accident Insurance

• Long Term Disability

• NYS Short Term Disability