Pentegra, EPIC Retirement Plan Services Launch New 3(16) Fiduciary Solution

Pentegra and EPIC Retirement Plan Services have joined forces to offer a new 3(16) administrative fiduciary service in conjunction with EPIC’s recordkeeping platform. It will enable EPIC clients to outsource key retirement plan operational responsibilities.

“Today, the demand for 3(16) services is reshaping the marketplace,” says John Pinto, president and CEO of Pentegra. “As an institutional fiduciary for nearly 80 years, Pentegra is well-positioned to deliver these services at the platform level. Partnering with EPIC is a tremendous opportunity to expand our fiduciary footprint, as plan sponsors continue to embrace the concept of outsourcing fiduciary responsibilities and the advantages this approach offers.”

Brian Lenz, senior director of national sales at EPIC, concurs. “By combining our high-touch service model and state-of-the-art user experience with Pentegra’s 3(16) fiduciary services, we can offer our clients an even more comprehensive solution. As an institutional fiduciary, Pentegra supports our goal to help our clients reduce workload, minimize risk and, ultimately, help Americans retire.”

In this arrangement, Pentegra will assume a plethora of responsibilities, including signing and filing clients’ annual Form 5500; interpreting plan provisions; reviewing government reporting, compliance testing and census data, respectively; providing plan audit reports; hosting a fiduciary document vault; serving as the named plan administrator; taking on fiduciary liability for operating the plan according to plan terms; interpreting plan provisions; and offering a fiduciary warranty.