Partner News
Pentegra Introduces Fiduciary SmartPath™ to Educate Plan Sponsors and Advisors During the Changing Fiduciary Landscape
White Plains, NY - Today, Pentegra, a leading provider of retirement plan and fiduciary outsourcing solutions, introduced the Pentegra Fiduciary SmartPathTM, an exclusive report detailing best practices and strategies for business owners, plan sponsors and advisors to use to help navigate the shifting fiduciary landscape. The report is designed to help understand fiduciary responsibilities and corresponding liabilities, and offers recommendations and guidance for managing these duties.
According to Rich Rausser, Senior Vice President at Pentegra, “Today, business owners, plan sponsors and advisors are extremely concerned with the changing regulatory landscape and overall plan administrative burdens. There is a strong desire to reduce workloads, fiduciary liability and risk. They want retirement plans to deliver successful outcomes for the sponsor as well as the participant. Our new tool, the Fiduciary SmartPathTM, is an invaluable resource at a very important time in the industry.”
Pentegra Fiduciary SmartPathTM details each fiduciary role in a retirement plan and focuses on helping plan sponsors and advisors clarify the many nuances associated with fulfilling their obligations, addressing some of the most important concerns of plan sponsors today. The report also tackles why outsourcing these responsibilities may be the trend of the future.
Retirement plan administration and the oversight of plan assets involve complex processes laden with compliance burdens. For many plan sponsors, the level of self-education and the commitment of time and energy required to effectively fulfill their fiduciary duties is an unwelcome concern that too often distracts from the more critical responsibility of running a business.
Rausser continues, “While traditionally the industry has provided help in the form of third party administration (TPA) and investment advisors, too often the actual fiduciary responsibility — and a broad and poorly understood array of duties — are left in the hands of the employer. The risk is that executives and employees who are assigned responsibility for these roles, often do not know what they entail or what is expected of them, yet the legal burden falls squarely on them.”
”Outsourcing fiduciary responsibility offers a solution. What most employers actually want and need is someone to simply handle it for them. Today and in the future, plans that have these responsibilities covered will be well on track to succeed in delivering successful outcomes for everyone,” Rausser added.
To view the Fiduciary SmartPathTM click here.
About Pentegra
Pentegra is a leading provider of retirement plan 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 partial or complete investment outsourcing capabilities. For more information, go to www.pentegra.com, or join the conversation on Twitter, Facebook or LinkedIn
Share This
Media Contact
Rodi Rosensweig
TheRodiCompany@gmail.com
Related Resources
Add to Calendar 2024-03-26 09:00:00 2024-03-26 09:00:00 Ensuring Safety and Soundness with AI Listen On: Key Takeaways: [03:48] The regulators are very focused on fairness in lending especially when it comes to using AI and outside models. The industry is moving very fast. [08:25] Articulating a business use case and how partnering with a Fintech can support it is the first step in having a successful conversation with your board. [10:30] Talk to your account executive at your Fintech and have them help you overcome objections. [15:01] Plan for oversight. It is not set and forget it. Your regulators are going to want to know how you are overseeing that from a 3rd party risk management standpoint. [15:47] Have a handle on your reserves and capacity for lending and start small and grow slowly. Web NAFCU digital@nafcu.org America/New_York public
Ensuring Safety and Soundness with AI
preferred partner
Upstart
Podcast
Help Ease Your Members' Loan Payment Concerns
Planning, Auto Loans, Research
preferred partner
TruStage
Blog Post
The Value of Risk Management in Cybersecurity
preferred partner
DefenseStorm
Video
Add to Calendar 2024-03-13 14:00:00 2024-03-13 14:00:00 Digital Assets in Credit Unions: What Are the AML Risks? The digital asset boom is upon us. Like it or not, you have to deal with it effectively with your members, credit unions are on the frontlines of crypto adoption. Even the NCUA has been providing more and more guidance on different aspects of digital assets. You need to be prepared. How? By understanding the core basics of digital assets (specifically cryptocurrencies) the risks that it poses to credit unions and how you can be better prepared to handle issues when they arise. In this webinar, Understanding the Digital Assets Boom, you’ll focus on the basics of digital assets, a background of cryptocurrencies and types, the regulations that are established and the proposals that are being considered and how to position yourself to understand all of these components and include them in your day-to-day roles. Key Takeaways Comprehend the basics of digital assets including cryptocurrencies Understand currently established regulations and what the future has in store, specifically in 2024 Identify and remediate issues that arise in your credit union Register Now $295 Members | $395 Nonmembers(Additional $50 for USB)One registration gives your entire team access to the live webinar and on-demand recording until March 13, 2025Go to the Online Training Center to access the webinar after purchase » Who Should Attend NCCOs NCRMs Compliance and risk titles Education Credits NCCOs will receive 1.0 CEUs for participating in this webinar NCRMs will recieve 1.0 CEUs for participating in this webinar Web NAFCU digital@nafcu.org America/New_York public
Digital Assets in Credit Unions: What Are the AML Risks?
Credits: NCCO, NCRM
Webinar
Get daily updates.
Subscribe to NAFCU today.