DST Systems, Inc. : DST Retirement Solutions and LIMRA Form Strategic Alliance
04/05/2012| 01:10pm US/Eastern
KANSAS CITY, Mo., April 5, 2012 /PRNewswire/ -- DST Retirement Solutions®, a leading provider of flexible retirement plan outsourcing solutions to financial services organizations, and LIMRA, the largest worldwide financial services research organization, today announced it has created a strategic alliance to offer retirement income solutions to LIMRA's member firms.
LIMRA, which provides research and consulting services to life insurance and financial services companies, pursues select alliances that support its membership by delivering and developing products and services that help solve marketing and distribution issues.
The demographic shift of America's workforce and the resulting income needs require new critical thinking by the industry. LIMRA provides a forum for developing fresh approaches to industry challenges and for identifying best practices in the delivery of customer solutions.
"Given that only a limited number of firms are chosen to be a strategic partner with LIMRA, this selection is a positive endorsement of our mission and technology and services," said Ian Sheridan, Division Vice President for DST Retirement Solutions. "We are honored to be working with LIMRA's members toward moving the income solutions marketplace forward. DST is focused on removing the technological barriers currently effecting plan adoption. LIMRA provides the best opportunity for this to happen."
"As our member firms develop the next generation of product solutions for the retirement market, they will need to rely on trusted allies to provide the right mix of technology and consultative services," said James Kerley, president of LIMRA Services, Inc. "We believe that DST Retirement Solutions will be just that kind of ally to LIMRA members worldwide."
DST Retirement Solutions, a wholly-owned subsidiary of DST Systems, Inc., offers one of the industry's broadest arrays of high value retirement plan servicing options for financial organizations distributing and serving their customers' retirement needs. The company recently introduced its Retirement Income Clearing Calculator platform, or RICC®, the industry's first middleware solution designed specifically to support guaranteed retirement income products through traditional recordkeeping platforms.
From technology-only to full-service outsourcing, DST Retirement Solutions offers a wide variety of front- and back-office technology and servicing solutions for financial service organizations offering retirement plan recordkeeping.
About DST Retirement Solutions, LLC
DST Retirement Solutions offers one of the broadest arrays of high-value retirement outsourcing solutions for financial organizations distributing retirement investment products and serving their customers' retirement needs. Financial service companies, such as mutual funds, banks, insurance companies, and third-party administrators, benefit from our flexible service model that utilizes an end-to-end technology solution and provides support for financial intermediaries. Servicing 4.6 million participants, DST Retirement Solutions supports any plan size and investment vehicle. DST Retirement Solutions is a wholly-owned subsidiary of DST Systems, Inc.
LIMRA, a worldwide research, consulting and professional development organization, is the trusted source of industry knowledge; helping more than 850 insurance and financial services companies in 73 countries increase their marketing and distribution effectiveness. Visit LIMRA at www.limra.com.
About DST Systems, Inc.
DST Systems provides sophisticated information processing solutions and services to support the global asset management, insurance, retirement, brokerage, and healthcare industries. In addition to technology products and services, DST also provides integrated print and electronic statement and billing solutions through DST Output. DST's world-class data centers provide technology infrastructure support for financial services and healthcare companies around the globe. Headquartered in Kansas City, MO., DST is a publicly traded company on the New York Stock Exchange.
The information and comments in this press release may include forward-looking statements respecting DST and its businesses. Such information and comments are based on DST's views as of today, and actual actions or results could differ. There could be a number of factors, risks, uncertainties or contingencies that could affect future actions or results, including but not limited to those set forth in DST's periodic reports (Forms 10-K or 10-Q) filed from time to time with the Securities and Exchange Commission. All such factors should be considered in evaluating any forward-looking statements. The Company undertakes no obligation to update any forward-looking statements in this press release to reflect future events. Brand, service or product names or marks in this press release are trademarks or service marks, registered or otherwise, of DST Systems, Inc., DST subsidiaries or affiliates, or third parties.
SOURCE DST Systems