Millennium Trust’s Auto Portability Functionality Ready for Client Testing in June
Network will be open to clients, other portability networks
Millennium Trust Company
Millennium Trust Company logo
OAK BROOK, Ill., April 13, 2023 (Newswire.com)
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Millennium Trust Company, LLC, a leading provider of health, wealth, retirement, and benefits solutions, today announced it soon will offer optional auto portability functionality for its best-in-class automatic rollover IRA solution.
The functionality is designed to connect to existing and new auto portability networks in order to further the industry’s ongoing efforts to reduce retirement savings leakage and increase access for all. This new, add-on feature will be ready for client testing later this quarter and available to go live in 2024.
“Thousands of recordkeepers, third-party administrators and plan sponsors – including more than half of the top 20 recordkeepers – partner with Millennium Trust to decrease leakage. Our scale and existing technology integrations put us in the unique position to connect the industry, and we knew we could bring this functionality to market quickly,” said Erik Beck, Chief Commercial Officer of Millennium Trust. “We’re offering this optional feature so any clients interested in connecting with our extensive network of retirement industry participants will be able to do so quickly and easily.”
Millennium Trust’s automatic rollover solution has always supported active portability of an IRA owner’s funds when the account owner chooses to do so, and now the company is improving and extending the solution’s portability options. This current initiative is part of Millennium Trust’s more than $30 million commitment to combat retirement savings leakage by reducing friction, expanding access to savings options, and providing more financial education.
Beck said the company is engaged in extensive, ongoing dialogue with clients of all sizes about their needs. Millennium Trust will have the new functionality in place by the end of June 2023, so anyone interested in the feature will be able to first test it and then implement it at no additional cost on Jan. 1, 2024.
Auto portability leverages the core features of Millennium Trust’s automatic rollover solution, helping individuals transfer their retirement savings from a former employer’s retirement plan to an automatic rollover IRA, and then to their new 401(k) or similar employer-sponsored retirement plan unless they elect otherwise. It is an optional add-on to the existing automatic rollover solution, wherein low-balance accounts of non-responsive former employees are rolled over to an IRA to maintain the tax advantages of the retirement savings system and reduce leakage.
The SECURE 2.0 Act of 2022 allows Millennium Trust to offer auto portability services to recordkeepers, third-party administrators and plan sponsors of all sizes. Auto portability is not mandatory. Rather, plan sponsors may choose to add auto portability to their existing automatic rollover solution, whether through Millennium Trust or another provider, thanks to Millennium Trust’s open network approach to this functionality.
“Millennium Trust wants to make a broad impact on keeping money in the retirement system by partnering with recordkeepers, third-party administrators, plan sponsors and others in our industry. We welcome any current and future retirement industry providers to join us in this mission,” Millennium Trust CEO Dan Laszlo said. “No matter the size of the partner, we want to provide a no-cost, fast and easy option to connect so they can offer their clients choice. And we won’t stop there. We will continue to work on health and wealth solutions that help individuals long before and well into retirement.”
About Millennium Trust Company
Millennium Trust Company solves important business challenges through innovative financial wellness solutions that help people plan, save and invest. With more than 5 million clients holding over $55 billion in assets under custody, we are committed to using our decades of expertise and strong partnership with the financial community to empower employers, advisors and institutions to help people achieve short-term and long-term financial security. Learn more at mtrustcompany.com.
Contact Information:
Emily Burns Perryman
Manager, PR & Communications
mediainquiry@mtrustcompany.com
847-594-0859
Original Source:
Millennium Trust’s Auto Portability Functionality Ready for Client Testing in June
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Nutrition21 to Showcase Lustriva at NYSCC Supplier’s Day Show
SADDLE BROOK, N.J., April 13, 2023 (Newswire.com)
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Nutrition21 LLC will be exhibiting at the New York Society of Cosmetic Chemists (NYSCC) “Suppliers’ Day 2023” show (booth #116) at the Jacob Javitz Convention Center in New York City May 2-3, 2023. The company will be featuring its newest patented beauty-from-within ingredient Lustriva®.
While conventional biotin is often used in beauty supplements, its benefits are vague. Lustriva is a clinically substantiated patented complex that combines Bonded Arginine Silicate with Magnesium Biotinate to promote healthier-looking hair and skin.*
Lustriva is unique in that it significantly increases biotin solubility 40 times greater than that of D-biotin, the form of this vitamin commonly found in beauty products.
In a clinical study1, healthy women who received Lustriva experienced thicker hair as well as a nearly 20% increase in hair growth in as little as three weeks. In the same study, participants also experienced improved skin texture and a 10% reduction in the appearance of wrinkles in just 12 weeks.
According to Catherine Kwik-Uribe, Ph.D., Nutrition21’s Vice President of Scientific and Regulatory Affairs, “There are many options in the market today. The research shows that Lustriva’s unique formulation offers 2-in-1 benefits that you can see and feel.
“Fortunately, the science and technology behind Lustriva offers formulators the assurance they need that the right forms of biotin and silicon make all the difference; the highly bioavailable forms of silicon and biotin can only be found in this product.”
Lustriva is self-affirmed Generally Recognized As Safe (GRAS) status and can be easily incorporated into a variety of products, including dietary supplements, functional foods, gummies and gels, and ready-to-drink beverages in a small clinical dose of 160 mg.
Information on registering for the event can be found here.
About Lustriva®
Lustriva® is a patented complex of Bonded Arginine Silicate and Magnesium Biotinate that is designed as a healthy aging ingredient. Lustriva is unique in that its form of biotin has 40X greater solubility than D-biotin and offers proven bioavailable forms of biotin and silicon. Lustriva has multiple benefits for hair and skin and has been clinically shown to increase hair growth in as little as three weeks and reduce wrinkles and improve skin’s texture within 12 weeks.
For more information on Lustriva, visit https://nutrition21.com/lustriva/.
About Nutrition21, LLC
Nutrition21 is an industry-leading developer and marketer of efficacious, high-value, clinically substantiated ingredients for use in dietary supplements, functional foods and beverages. With decades of experience, the company’s scientific platform has continued to create unique, patented products that are both safe and clinically effective. To build consumer trust, Nutrition21 ensures product efficacy and safety through a product development process that involves rigorous preclinical and clinical research. The company currently holds over 70 domestic and international issued and pending patents for its ingredients which support unique claims associated with sports nutrition, weight management, cognitive health, and beauty-from-within, among others.
For more information on Nutrition21, visit www.Nutrition21.com.
[1] Kalman DS and Hewlings SJ. A randomized double-blind evaluation of a novel biotin and silicon ingredient complex on the hair and skin of healthy women. J Clin Exp Dermatol Res. 2021;12(1):1-7. Accessed April 9, 2023.
*These statements have not been evaluated by the Food and Drug Administration. This ingredient is not intended to diagnose, treat, cure or prevent any disease.
©2023 Nutrition21, LLC
Nutrition21, LLC, Saddle Brook, NJ Source: Nutrition21, LLC M0002423
Contact Information:
Becky Wright
Media Contact
201-675-0197
Original Source:
Nutrition21 to Showcase Lustriva at NYSCC Supplier’s Day Show
The post Nutrition21 to Showcase Lustriva at NYSCC Supplier’s Day Show first appeared on NT Beauty.
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