Super Fiduciary Solutions for All Your Retirement Plan Needs

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Presentation Description

Don’t assume your TPA is handling something. Only a 3(16) fiduciary assumes responsibility for ensuring that notices are delivered to participants and that you’re meeting your compliance responsibilities.

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Presentation Transcript

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SUPER Fiduciary Solutions for ALL Your Retirement Plan Needs SUPER Fiduciary Solutions for ALL Your Retirement Plan Needs

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Don’t Assume Thad Coward Director of TPA Operations The Situation This phrase was the surprising theme to another unfortunate story. Pentegra associates had a meeting with a prospective client the CFO of a large physician practice. Our conversation bounced around but at one point it landed on the delivery of required notices. We asked how these were being handled—paper or electronic delivery He looked at us sort of funny and said ‘I delete them.” Not sure of what he meant we asked ‘When you say you delete them what exactly are you deleting’ He explained that when he received the emails with the required notices and delivery instructions…but he assumed his TPA was handling them. They were not. The Value of a 316 Fiduciary Don’t assume your TPA is handling something. Only a 316 fduciary assumes responsibility for ensuring that notices are delivered to participants and that you’re meeting your compliance responsibilities. Only a 316 Fiduciary can provide assurances.

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Save me time. Take work off my desk. Eliminate complex responsibilities. Minimize risk and burdens. Make it easy for me. T oday you’re busy running your business. Who has the time to devote to the retirement plan responsibilities that come with the day-to-day job of a plan administrator But at the end of the day employers are fduciaries. They are legally responsible for their plans. Most mistakes involve plan administration. As our stories illustrate there are very real and signifcant consequences. That’s why it is so important to hire an ERISA 316 Fiduciary Administrator. The right 316 Administrator can virtually eliminate the risk of failing to meet deadlines or doing things incorrectly and assume these responsibilities for your clients. Enter Pentegra As one of the most experienced 316 Administrators in the industry Pentegra can help. Pentegra is America’s oldest independent fduciary. With more than 75 years of expertise serving as an institutional fduciary Pentegra really can make it easy. This booklet of short stories is brought to you by the fduciary super heroes at Pentegra. Each day we’re helping our clients make retirement plan administration problems disappear with 316 fduciary outsourcing solutions designed to simplify plan administration minimize risk and burdens. It’s not quite magic but it is that simple. Y ou really can transfer the responsibilities and burdens of managing a retirement plan and save time work and cost all while eliminating compliance risks and complex burdens. Think of us as your fduciary super hero.

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As America’s oldest independent fduciary Pentegra is your fduciary expert. Learn more about our 316 fduciary solutions. Contact the Pentegra Solutions Center at solutionspentegra.com or 855-549-6689 Follow our conversation.

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