Pentegra Expands Availability of Its 403b MEP
WHITE PLAINS, NY, November 20, 2018 -- Today, Pentegra announced the expansion of its ERISA 403b multiple employer plan (MEP), America's 403b MEP, making it available to sell and distribute through advisors nationwide.
The MEP is designed to streamline 403b plan administration, save time, money and reduce the fiduciary responsibilities that come with managing a 403bretirement plan subject to ERISA. The program offers a comprehensive array of plan services, fiduciary relief, a sophisticated investment platform, and participant advice to offer clients a seamless retirement plan solution. The expanded distribution of this program seeks to take advantage of the Department of Labor's recent focus on expanding MEP coverage.
According to Senior Vice President and National Sales Director Pete Swisher, "For many organizations, offering a retirement plan can be costly and complicated. The America's 403b MEP offers advisors a simple solution for their clients. The platform streamlines plan operations and reduces administrative responsibilities. Working with our valued advisor partners, our goal is to deliver solutions that make retirement plans accessible for all employers, drive plan success and ultimately, participant retirement readiness."
Under the program, 403b plan sponsors can outsource responsibility for the fiduciary liability that comes with managing a retirement plan. The role of the named fiduciary, trustee, administrator and investment manager are outsourced to professionals, Pentegra and its partner advisory firms. The sponsor's name comes off of the 5500 and plan document, and nearly all legal liability is transferred to institutional fiduciaries, expert in the governance and oversight of retirement plans.
Pentegra has been an industry leader in providing MEPs to advisors and their clients nationwide, having sponsored two of the largest MEPs in the nation for over 75 years. With more than seven decades of highly specialized MEP expertise, Pentegra works with advisors to develop solutions that help relieve their clients of the fiduciary and administrative burdens that come with sponsoring a retirement plan.
Pentegra is a leading provider of retirement planning and fiduciary outsourcing solutions to organizations nationwide. Founded by the Federal Home Loan Bank System in 1943, Pentegra offers a broad array of qualified and non-qualified retirement plan solutions, TPA services and benefits financing solutions using BOLI. In addition, Pentegra, through Pentegra Investors, Inc., also serves the needs of institutional investors, offering investment outsourcing capabilities. For more information, go to www.pentegra.com.
Click here for more material dealing with current trends, opinion, news, legislative action, investments, marketing, sales, consulting, and legal issues on 401k plans.
This is a press release provided by the company mentioned or its representatives. Although 401khelpcenter.com may edit the release for editorial consistency, spelling, grammar, punctuation, or other editorial issues, it is not the author of the press release. Use of any information obtained from this release is voluntary, and reliance on it should only be undertaken after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by 401khelpcenter.com.