WHITE PLAINS, N.Y., Oct. 7, 2019 /PRNewswire/ -- Today Pentegra, a leading provider of retirement plan and fiduciary outsourcing solutions to organizations nationwide, announced its enterprise partnership with ADP Retirement Services to offer 3(16) Fiduciary Solutions to complement ADP's retirement recordkeeping services. The new solution helps businesses of all sizes reduce administrative responsibilities, simplify retirement plan complexities and minimize risk. Among the first of its kind in the industry, the solution will provide ADP 401(k) clients with the ability to outsource key retirement plan administrative duties.
Pentegra President and CEO John Pinto said, "Employers are fiduciaries, legally responsible for running their plan. Most plan mistakes involve administration — and these mistakes have very real, legal consequences. By combining our fiduciary solution with ADP's recordkeeping platform, we can make offering a retirement plan less burdensome for the business owner by transferring the responsibility to Pentegra. We feel strongly that no matter the plan size, whether $1 million or $50 million, we can help them reduce risk and provide better outcomes."
In addition to offering 3(16) services, Pentegra will provide an interactive tool, Retirement GuidePath™, for advisors to engage with plan sponsors, coming later this fall. Designed by Blue Rush, a leading provider of interactive and personalized video solutions, Retirement GuidePath™ delivers a customized, personal video experience for every client, using a unique video-based platform that simplifies complex terminology and ensures immediate relevancy to drive better engagement across the customer journey.
"We are excited to support Pentegra's development of an interactive personalized video platform to digitally transform their customer communications. Our IndiVideo platform will enable advisors who work with Pentegra to gather information conversationally and visually with plan sponsors and then generate personalized videos to drive improved engagement," said Larry Lubin, President of BlueRush. "We look forward to supporting Pentegra in establishing a new benchmark in streamlining and simplifying the management of retirement plans and increasing plan sponsor engagement."
Pinto added, "What is happening now in terms of demand for 3(16) services will likely reshape the marketplace. As an institutional fiduciary for more than 75 years, Pentegra is well-positioned to deliver these services at the platform level. We are excited about this opportunity to partner with ADP and the benefits that these innovative services will provide business owners as they embrace the concept of outsourcing fiduciary responsibilities."
Kristin Andreski, general manager of ADP Retirement Services said, "Our retirement business has been built upon solving complex human resource challenges for employers from recruitment to retirement. We leverage innovation to help drive plan efficiency and improved outcomes for participants, while providing plan sponsors with access to solutions that reduce administrative risk and save them valuable time. We believe that our relationship with Pentegra truly helps accomplish those objectives."
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 investment outsourcing capabilities. For more information, go to www.pentegra.com.
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BlueRush develops and markets IndiVideo, a disruptive, award-winning interactive personalized video platform that drives return on investment throughout the customer lifecycle, from increased conversions to more engaging statements and customer care. IndiVideo enables BlueRush clients to capture knowledge and data from their customers' video interaction, creating new and compelling data driven customer insights. For more information visit www.bluerush.com.
Media Contact: Rodi Rosensweig, TheRodiCompany@gmail.com; 203/270-8929
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