As you may know from our previous blog posts, we are currently working very hard to launch our new recordkeeping system that has been four years in the making, and will greatly improve your user experience.
We want to take this time to thank our existing customers for their loyalty and feedback on our services, and welcome our new savers to a new Ubiquity!
As we shift to this new and improved system, we know you will have questions. For example, you might be wondering: What’s going on with my accounts during the blackout period? Why does this process take 15 days?
To put your minds at ease, I wanted to take time to explain what goes on behind the scenes of the retirement industry and why these sometimes confusing processes are required to make saving for retirement and supporting you, as seamless as possible.
The reason for a blackout period is to make sure every single thing is accounted for when we move from one recordkeeping system to another. We double (and triple) check all reports from both the current and new systems to ensure everything matches perfectly in all accounts, including any new contributions, trades or dividends made during the blackout period.
As a plan provider, we are under numerous legal obligations to ensure you’re receiving the most sound, transparent product that will help you save better and smarter. This stems from the Employee Retirement Income Security Act (ERISA), which was implemented to protect plan participants and their account balances they work so hard to save and accumulate. We are operating in an industry surrounded by red tape and complex regulations, but that doesn’t mean this process should be difficult for you.
Though your plan online will be inaccessible during the 15-day blackout period, we are not! Our team is available and enthusiastic to answer any questions you may have regarding this transition.
Our new system takes the next step toward solving the looming retirement crisis, in that the technology is doing the heavy lifting for you so that saving for retirement isn’t a burden on your resources.
After 17 years of experience in the small business retirement market, we are staying true to our values by continuing to innovate our systems and capabilities to ensure your user experience is as clean and simple as possible.