Fiduciary Scorecard From Pentegra Can Help Measure Plan Success
The firm says it gives sponsors a way to document the fiduciary oversight process and provides assurances to senior management and boards that the plan is being managed properly.
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Pentegra Services has introduced the Fiduciary Scorecard, a tool to help defined contribution (DC) plan sponsors measure plan success.
It enables sponsors to document the fiduciary oversight process, to illustrate the value of their fiduciary oversight and ensure high standards of care.
As an institutional fiduciary, Pentegra assumes responsibility and liability for key plan tasks. The scorecard details the list of fiduciary tasks being completed for DC plans over the course of the plan year, helping to instill sponsor confidence that a plan is in good standing and meets all fiduciary requirements.
Fidelity launches pooled employer plan for small business
Bloomberg
Fidelity Investments has dipped its toes into the pooled employer plan market with an offering aimed at small businesses that don t currently have a retirement plan.
The Fidelity Advantage 401(k) pooled employer plan, which launched Jan. 21, is available only to small companies with between five and 50 employees that are offering a retirement plan for the first time, said Andy Schreiner, senior vice president of defined contribution innovation at Fidelity.
The pooled plan complements Fidelity s retirement plan options for small-business owners, including SEP and SIMPLE IRAs, Mr. Schreiner said.
While the PEP is currently available only to first-time plan providers, it will evolve to include employers that already sponsor plans, Mr. Schreiner said. The PEP is currently available only through Fidelity but the firm plans to broaden its distribution network.