FOR IMMEDIATE RELEASE

November 20, 2000

(1030 words)

LOS ANGELES Southern-California-based Pension Systems Corporation's patented 401k plan plus software-based "run-it-yourself" plan administration system lets small businesses manage their new or already-existing 401k plans in-house from the privacy and security of their desktop PCs in just 10 to 15 minutes a month and at an average savings of 60% to 80% a year off conventional plan administration costs.

The Wall Street Journal says 401(k) Easy "allows small businesses to manage 401k plans as easily as a consumer navigates family finances with programs such as Quicken" ("Web Helps Small Firms Start 401ks," Monday, December 27, 1999, section C1). 401(k) Easy also negates the problems the same article notes have historically plagued companies trying to run their own 401ks.

Pension Systems Corporation president Jim Gilbert says, "401k administration isn't brain surgery, so why are small businesses being charged as if it is? With 401(k) Easy, small businesses take the same information they're already collecting for their third party administrator, but instead of forwarding it to the TPA and then sitting around waiting - and paying for - results, they just plug the information into the 401(k) Easy software. It does all the processing. 401k loans, hardship withdrawals, rollovers into and out of the plan .... They're all a snap. The employer is told how much money to forward to the investment company(ies), and instruction sheets regarding the deposits are instantaneously prepared for the investment company(ies) for inclusion with the money transfer. Plan contributions go DIRECTLY to the mutual funds and/or discount brokerage companies housing the plan's assets, with 401(k) Easy documenting every transaction.

"401(k) Easy lets small businesses take an investment of about 10 minutes a month and turn it into a savings of thousands of dollars a year - all the while providing their company with a great investment-rich, participant-friendly 401k plan!"

What's Included
401(k) Easy clients receive:

-- An IRS-approved prototype 401k plan customized to the client's specifications regarding participation requirements, 401k loan availability, employer matching contributions (if any), vesting schedules (if any), and automatic enrollment

-- 401k plan administration software and companion materials customized to the client's exact plan

-- The client's choice of plan investments (self-directed discount brokerage accounts as well as no-load mutual funds are available)

-- A supplemental FedForms CD-ROM to aid in relevant federal reporting

-- Free technical support

Routine administrative tasks, such as processing monthly 401k contributions and running monthly compliance tests, as well as less routine ones, such as compliance test corrections and plan distributions, are straightforward and simple to execute. The software addresses every aspect of 401k plan administration. Most small businesses can administrate their 401k plan in 10 minutes a month.

Two of the software's most popular automated functions are its battery of compliance tests (which run in seconds) and the monthly account statements it generates for plan participants, features either not available or available only on a limited basis and at a substantial cost in most traditionally-administrated plans.

Plan Investments
401(k) Easy comes with the client's choice of 401k investments. Self-directed discount brokerage accounts from Charles Schwab, TD Waterhouse and others as well as no-load mutual funds from T. Rowe Price, Fidelity, and others are available. A database of potential investments and information on each is available on the 401(k) Easy website. Free help with choosing plan investments is available.

Pricing
401(k) Easy is adaptable to new and already-existing plans of any size. Pricing starts at $495 a year and increases only with plan size (see price list). Clients also pay a first-year-only $500 plan and software customization fee. Participant loans, employer matching contributions, automatic enrollment, and other popular 401k features are included at the client's discretion at no extra charge. Free help is available with understanding available choices and their typical effects on a 401k plan. Any needed plan conversion services are free of charge.

60-day Money-back Guarantee
401(k) Easy comes with a 60-day money-back guarantee on everything except investments and the one-time $500 plan and software customization fee. Because the $500 fee is nonrefundable, Pension Systems Corporation has created a full-featured demonstration copy of the plan administration software (customized to service a fictitious company's plan) and has made it available for free download from the 401(k) Easy website. The demo is also available on CD-ROM, which can be ordered through the website or by calling (800) 660-0050.

The Competition
Fidelity and others have recently introduced web-based 401ks marketed toward small businesses, but none offer the combination of affordability, investment flexibility and control found in 401(k) Easy. In addition, these plans use the web basically as a portal for transmitting information, which is then processed in a fairly traditional manner by the vendor at the other end rather than instantaneously by the employer as with 401(k) Easy.

In Development: 401(k) Easy Online
Potential branding and co-branding arrangements with key financial institutions are being explored for online versions of 401(k) Easy self-service plan administration. Chosen institutions will each house a customized version of 401(k) Easy within their websites for use by their new and existing small business 401k clients. Each version will suit its host's particular site design and offer its host's lineup of proprietary investments/self-directed discount brokerage accounts.

-- Customized 401k plans and run-it-yourself plan administration for small businesses

-- Software-based run-it-yourself plan administration takes small businesses only 10-15 minutes a month

-- Unsurpassed affordability: Price* is based solely upon plan size:

	1-4 eligible employees 5-15 eligible employees 16-25 eligible employees 26-50 eligible employees 51-75 eligible employees 76-100 eligible employees 101-125 eligible employees 126-150 eligible employees 151-175 eligible employees 176-200 eligible employees more than 200 eligible employees		$495 a year $695 a year $995 a year $1295 a year $1495 a year $1995 a year $2295 a year $2495 a year $2795 a year $2995 a year (please call for quote)
	*Each plan also incurs a first-year-only, one-time plan and software customization fee of $500.

-- 60-day money-back guarantee on everything except investments and first-year-only setup fee

-- Free technical support

-- Extensive investment choice (self-directed discount brokerage accounts and/or no-load mutual funds are available)

-- Matching contributions, participant loans, automatic enrollment and more are free options

-- Plan administration software has built-in safeguards against operating a plan in violation of federal regulations

-- Customers receive updated plan administration software and companion materials every year; updates incorporate government regulatory changes as well as system upgrades

-- Plan administration software runs on Windows® 95 (and above) and NT systems

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