Alight and BNY Launch Integrated Retirement Plan Solution Delivering Deeper Support for Plan Administration and Investing

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 (NYSE: ALIT), a leading benefits administration provider of health, wealth and leave solutions, today announced a collaboration with BNY (NYSE: 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.

“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."

Joint Go-to-Market

The retirement plan solution will harness BNY’s enterprise platform by leveraging the capabilities of BNY Investments, Asset Servicing and Global Payments and Trade. Alight will lead client engagement and implementation through its relationship management and service teams, with BNY providing subject matter expertise and supporting services.

To learn more about this collaboration visit alight.com.

About Alight Solutions

Alight is a leading benefits administration provider of health, wealth, leave and point solutions for many of the world’s largest organizations and over 30 million people. Through the administration of employee benefits, Alight helps clients gain a benefits advantage while building a healthy and financially secure workforce by unifying the benefits ecosystem across health, wealth, wellbeing, absence management and navigation. Our Alight Worklife® platform empowers employers to gain a deeper understanding of their workforce and engage them throughout life’s most important moments with personalized benefits management and data-driven insights, leading to increased employee wellbeing, engagement and productivity. Learn more at alight.com.

Media Contact

Alight
Mariana Fischbach
mediarelations@alight.com

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