Compliance July 13, 2007

PBGC Takes On Keller Manufacturing Pension Plan

July 13, 2007 (PLANPONSOR.com) - The Pension Benefit Guaranty Corporation (PBGC) said it would take over the pension obligations of Louisville, Kentucky-based Keller Manufacturing, whose pension plan is 66% funded.
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According to a press release  from the private sector pension insurer, the furniture manufacturer’s plan covers 477 former employees and has $9 million in assets to cover $13.5 million in liabilities, leaving a $4.6 million gap for which the PBGC will assume responsibility.

The agency found that the company would not be able to continue operating unless they terminated the plan, which occurred on July 26, 2006.

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Benefits July 12, 2007

BISYS Scoops Up Frontier Trust Company

July 12, 2007 (PLANSPONSOR.com) - BISYS Retirement Services has acquired Fargo, North Dakota-based Frontier Trust Company from AXA Financial, Inc.
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According to a press release, Frontier Trust’s business mainly focuses on trustee and custodial services for qualified retirement plans, and has assets under management of more than $12 billion.

Following the acquisition, existing employees of Frontier Trust along with the current management structure will remain with the business and operate as a separate division in the Retirement Services business.

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“BISYS’ long standing relationship with Frontier Trust over the last 20 years makes this a natural fit,” commented Bob Guillocheau, president of BISYS Retirement Services, in the press release. “In a consolidating industry, this acquisition allows BISYS to further execute our strategic vision of providing robust retirement plan services to our clients.”

For more information visit www.bisys.com .

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