Pentegra Announces Partnership With Independent Bankers Association of New York
WHITE PLAINS, NY August 30, 2012 --- Today, Pentegra Retirement Services announced a preferred partnership of its qualified retirement plan products, Bank Owned Life Insurance (BOLI), and Non-Qualified Plan Products, with the Independent Bankers Association of New York State (IBANYS).
Pentegra's retirement plan products were chosen after a review and analysis by IBANYS, based on a wide range of factors including Pentegra's ability to meet the needs of IBANYS members with a full array of retirement product offerings, industry expertise, and bank-focused solutions.
In receiving the news, Pentegra President Robert C. Albanese said, "We are honored and grateful to be recognized by the Independent Bankers Association of New York State and to receive its important endorsement. We look forward to a long and rewarding relationship."
A critical factor in IBANYS' decision was Pentegra's 65 plus years of community bank retirement plan "best practices." Pentegra's retirement programs, including its 401k plans, defined benefit pension plans, ESOPs, KSOPs and profit sharing programs, offer distinct advantages for banks, including Pentegra's unique fiduciary role, which relieves banks and their boards of fiduciary responsibilities associated with sponsoring a retirement plan.
IBANYS President and CEO Frank Capaldo said, "IBANYS is pleased to announce Pentegra Retirement Services as an IBANYS Preferred Provider. Their qualified and non-qualified products and services, and their many years of experience in the industry, make them an important IBANYS business partner going forward. Pentegra can provide enormous value to community banks throughout New York State, and we look forward to a mutually beneficial partnership."
Pentegra currently provides its products and services to more than 700 financial institution clients sponsoring over 1,200 retirement plans nationwide. With over six decades of working with community banks, Pentegra offers IBANYS members an added advantage of top industry expertise and proven bank-focused solutions for retirement programs.
About Pentegra Retirement Services
Pentegra Retirement Services is a leading provider of retirement plan products and services to financial institutions and organizations nationwide. Founded by the Federal Home Loan Bank System in 1943, Pentegra offers a full range of retirement programs, including 401k plans, defined benefit pension plans, ESOPs, KSOPs, profit sharing plans, 403(b) plans, 457 plans, executive benefit and director compensation plans, BOLI, and full-service private label retirement programs. For more information, go to www.pentegra.com.
For more information about Pentegra's qualified retirement plan products, contact Wade Connor at wconnor@pentegra.com or (704) 332-9740. For more on Pentegra's non-qualified plan products and BOLI, contact Fabrizio D'Uva at fduva@pentegra.com or (609) 584-7400.
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