Alight and BNY Launch Integrated Retirement Plan Solution Delivering Deeper Support for Plan Administration and Investing
Collaboration combines Alight’s leading recordkeeping capabilities with BNY’s comprehensive expertise in custody, payments, bundled investment options and investment management to offer a more seamless experience for plan sponsors and participants
Alight , a leading benefits administration provider of health, wealth and leave solutions, announced a collaboration with BNY , a global financial services platforms company, to launch a retirement solution designed to offer defined contribution (DC) and defined benefit (DB) plan sponsors and participants deeper support for plan administration and investing.
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“Our collaboration with BNY offers a streamlined experience that helps participants to take charge of their financial futures,” said Dinesh Tulsiani, President of Employer Solutions at Alight. “By bringing together Alight’s recordkeeping capabilities across DC and DB with BNY’s comprehensive financial solutions including payments, custody, and investments, we will deliver a more seamless solution that helps sponsors manage their plans more efficiently via a single contact point and provides participants with the necessary tools to build stronger financial wellbeing.”
An Integrated Retirement Offering
The collaboration allows sponsors and their participants to rely on Alight as their primary partner while accessing bundled investment capabilities and services from BNY. The features include:
- Expanded Optionality and Bundled Investment Solutions
Plan sponsors and participants can tap BNY’s suite of retirement-focused investment products, including stable value, target date, active and index funds. These funds can be incorporated into Alight’s DC and DB recordkeeping with a modern brokerage window built on custody infrastructure, all wrapped in an intuitive interface. The bundling provides sponsors with integrated solutions and enhanced economic alignment. With an open-architecture philosophy, sponsors and participants will be able to mix-and-match retirement options aligning with their goals and preferences.
Alight integrates these investment capabilities to its existing recordkeeping and participant experience platform, Alight Worklife®, enabling sponsors to manage plan administration, participant interactions and investment access in a unified way.
- Strengthened Fiduciary Oversight
The dual-oversight model allows plan sponsors to offer retirement plan options with proper fiduciary care and oversight. Through this collaboration, Alight will leverage its recordkeeping infrastructure, plan administration capabilities and compliance processes to support sponsors’ governance and operational requirements.
- AI-Powered Approach to Retirement Planning with Simplified Service Delivery
The solution blends AI-driven insights and data security measures with personalized guidance. Acting as a single point of contact, Alight relationship managers will coordinate with BNY subject matter experts to deliver client support. Alight’s platform provides plan sponsors with workforce data, reporting and analytics to support retirement readiness strategies and financial wellbeing initiatives.
“Sponsors have often faced limitations in providing participants with an experience that combines efficiency, flexibility, transparency, and retirement-specific investment options,” said Nader Souri, Head of Corporate Banking at BNY. “Our solution with Alight is designed to overcome those limitations while helping equip employees to achieve better retirement outcomes.”
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