The National Cooperative Business Association’s November 18 webinar, “Trends in the Retirement Plan Industry–Multiple Employer Plans,” featuring NCBA CLUSA Associate Member Pentegra, will walk attendees through the key advantages of multiple employer plans (MEPs), which cover employers that are not commonly owned and provide greater benefit security by pooling risk.
Founded in 1943 as a non-for-profit cooperative to meet the retirement needs of its members, Pentegra is uniquely qualified to serve the co-op sector. Its programs are “designed and managed by professionals who understand the competitive demands of the [cooperative] industry,” said Mike Natyshak, national director for Pentegra’s Qualified Plan Sales and head of the provider’s business development efforts in the cooperative sphere.
With offices across the Eastern U.S., New York-based Pentegra provides retirement plans to financial institutions nationwide, among them credit unions, managing more than 4,000 retirement plans and close to $8 billion in retirement plan assets. Pentegra currently works with nearly 100 cooperatives.
The organization offers a full spectrum of retirement plans for its credit union partners, including MEPs and Group Trusts, 401(k) plans, Defined Benefit Pension plans and Cash Balance Plans, “relieving credit unions of the fiduciary and administrative burdens that come with sponsoring a retirement plan,” Natyshak said.
Pentegra founded and continues to manage two of the largest MEPs in the nation, currently used by its credit union cooperative customers. Leveraging the buying power of hundreds of organizations lowers retirement program costs and investment management fees, Natyshak said, making it “affordable and practical” for organizations of any size to offer employees an “institutional-quality retirement program.”
“People join cooperative businesses to enjoy the benefits of group purchasing, pooled risk and the empowerment of owning and controlling the company,” he said. “Multiple employer programs do the very same thing.”
Going forward, Pentegra is positioned to address how best to develop retirement programs for cooperatives that help transfer fiduciary risk away from co-ops, while providing plans that strive to maximize retirement readiness for participants, Natyshak said.
Click here to learn more and register for this webinar.