BOSTON, Aug. 29, 2012 /PRNewswire/ -- TRUSTIVO, the secure social retirement network transforms the way individuals and trusted advisors connect, engage and develop strategies for retirement. "The addition of ACA to our platform extends a unique and valuable service to our Retirement plan advisors, plan administrators, employers and plan participants," says Rad Pasovschi, Chairman of TRUSTIVO. "ACA's patented and automated loan processing solution is indeed unique in the market today," he says.
Access Control Advantage (ACA) provides an efficient loan solution for DC plan participants by lowering plan administration costs, eliminating loan repayment through payroll processing, reducing participant borrowing, enabling faster loan repayment, keeping more assets in the plans, and encouraging employee participation because of the knowledge that they can access their pension savings in an emergency. Because borrowing is more precise, employees only take out what they need when they need it, not a pre-determined lump sum. Also, if a loan is outstanding when an employee separates from their employer, ACA will continue to handle loan servicing on the same amortization schedule preventing the need to call for repayment of the loan during a difficult financial period for the employee.
"This is a win-win-win for recordkeepers, employers and employees because it reduces plan leakage and the cost of loan processing and at the same time, provides maximum payment flexibility and protection for the employee," says Bruce Bent II, President of ACA. ACA works with 401k plans, 457 plans, and 403b plans.
TRUSTIVO's secure social retirement network transforms the way Boomers and trusted advisors connect, engage and develop strategies for retirement. Access Control Advantage (www.acaonline.com) is the pre-eminent industry source for loan administration for the financial services industry. Access Control Advantage, Inc. is an affiliate of Double Rock Corporation. Double Rock is a financial technologies company providing the industry's most innovative cash management and cash-related solutions to the broker-dealer, banking, qualified plan and retail direct markets.
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