Alight and BNY launch integrated retirement plan solution

Alight (NYSE: ALIT) and BNY (NYSE: BNY) have announced a collaboration to launch a retirement plan solution combining Alight's recordkeeping capabilities with BNY's custody, payments, and investment management services.

The solution is designed to serve defined contribution and defined benefit plan sponsors and participants. Alight will serve as the primary client contact, while BNY will provide investment products and supporting services through its BNY Investments, Asset Servicing, and Global Payments and Trade divisions.

Features of the offering include bundled investment options such as stable value, target date, active, and index funds accessible through Alight's recordkeeping platform, Alight Worklife. The solution also includes a brokerage window built on BNY's custody infrastructure, a dual-oversight fiduciary model, and AI-driven tools for personalized retirement guidance.

"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," said Dinesh Tulsiani, President of Employer Solutions at Alight.

Nader Souri, Head of Corporate Banking at BNY, said the solution is "designed to overcome those limitations while helping equip employees to achieve better retirement outcomes," referring to challenges sponsors face in providing participants with efficiency, flexibility, and retirement-specific investment options.

Alight will lead client engagement and implementation, with BNY providing subject matter expertise. The announcement was made according to a press release from Alight Solutions.

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