Pentegra Retirement Services is the NAFCU Services Preferred Partner for qualified retirement plans for credit unions and their employees.
Listen On:
Key Takeaways:
- [02:24] If we look at the typical qualified plan it is the client who is the plan sponsor or is assuming the role of the fiduciary for the client.
- [14:32] Taking on a 3(16) role is not only understanding the law, rules, and requirements but knowing what is in that specific plan document and then applying that to that client’s specific circumstance.
- [21:13] Determine if you want to retain all those functions, roles, and legal and financial responsibilities. Organizations big and small may be capable but it isn’t their day-to-day business so they don’t really want to focus on it and they want to outsource it.
- [22:56] So many times the new hires are not offered the opportunity timely. At the end of the day, if that error isn’t caught, that participant loses out on the ability to save money long-term for retirement.
Presented By
Rich Rausser
CPC, QPA, QK, Senior Vice President, Client Services | Pentegra
Rich leads Pentegra’s Consulting, Product Development, Marketing & Communications, and Actuarial and Technical Services teams. His extensive knowledge of the retirement plan industry includes a unique mix of small company and Fortune 500 level consulting work, as well as strategic product development.