ALLENTOWN, Pa. & PHILADELPHIA--(BUSINESS WIRE)--Meyer-Chatfield Corp. announced the adoption of Andesa Service’s state-of-the-art Plan Administration system at its annual national sales meeting on January 15. The Meyer-Chatfield family of companies, including Meyer-Chatfield Corp., Meyer-Chatfield Administrative Services LLC and Meyer-Chatfield Compensation Advisors ("Meyer-Chatfield") will benefit significantly from Andesa’s ADASTAR Q+™ system. Andesa’s system leverages technology and decades of business acumen to meet the sophisticated record-keeping requirements inherent to BOLI and non-qualified deferred compensation (NQDC) plans.
The Meyer-Chatfield products and services that will benefit from this technology include:
- Bank-owned life insurance
- Variable and fixed defined-contribution income plans
- Defined-benefit income plans
- Death Benefit Only & Split-dollar life insurance arrangements
Chris Pezalla, Meyer-Chatfield’s Executive Vice President, stated, “Andesa's scalable, web-based plan administration solution will provide our carriers, clients/plan sponsors and plan participants with a unique level of asset and liability management and record-keeping support for all manner of plans.”
Meyer-Chatfield’s clients and users of the Andesa's ADASTAR Q+™ administration system will experience a number of benefits:
- Real-time, web-based delivery of scheduled, recurring and ad hoc reports
- 24/7 access to full plan histories, including plan values and documentation as of any date
- The ability for plan sponsors to retrieve both Bank Owned Life Insurance (BOLI) and Non-qualified Deferred Compensation (NQDC) reports and other documents via a secure, internet based portal.
Bennett S. Meyer, Meyer-Chatfield’s Chairman and Chief Executive Officer, said, “We are really excited to adopt this proven system. Upon implementation, we will be able to provide our clients with the best administration platform in the industry, coupling our high touch personal service with the best technology in the industry.”
“We are excited to have Meyer-Chatfield, one of the leading BOLI, compensation and benefits consulting firms in the country, as our client,” said Ron Scheese, President and CEO of Andesa. “The ongoing interaction between our respective teams will make the system even more effective in serving the needs of the non-qualified benefits market.”
About Meyer-Chatfield, Corp.
Meyer-Chatfield delivers non-qualified benefit and BOLI administration and portfolio services to financial institutions across the United States via its team of 16 consultants and 30 support personnel located in 13 regional offices. Meyer-Chatfield offers a near-seamless approach from design to implementation. The Meyer-Chatfield team has helped over 400 banking organizations recruit, retain, and reward executives, directors and employees critical to each bank’s success. To learn more about Meyer-Chatfield, visit www.meyerchatfield.com.
About Andesa Services, Inc.
Andesa Services provides comprehensive, integrated policy administration, non-qualified plan administration and support solutions for life insurance and annuity carriers and distributors. Andesa began as a pioneer in the field of SaaS policy administration. Today, more than 30 years later, we provide seven of the top 13 life and annuity carriers and several top brokerage firms with a comprehensive suite of services backed by decades of proven, practical expertise in the life insurance industry. Andesa’s highly experienced team of U.S.-based professionals is made up of devoted client advocates who help insurers and brokers, large and small save time, reduce risk and tap unrealized value. To learn more about Andesa, visit www.andesaservices.com