Experience Matters.

Overview

In this case, a plan had failed the match limit test – and all participants who had received matching contributions were set to forfeit those contributions.

Our compliance expertise told us something didn’t add up. Determined to find the cause of the problem, our team went on a fact‑finding crusade to investigate the issue, which turned out to be a simple data error. A single data error had triggered the recordkeeping system to conclude that every participant had exceeded their match limit, which was not the case at all.

How Pentegra Helps

Once we reached out to the recordkeeper to correct the data error, all participants’ matching contributions remained intact and nothing was forfeited.

Pentegra’s 3(16) oversight can deliver compliance confidence for your clients.

Pentegra

Founded in 1943 by the Federal Home Loan Bank System, Pentegra has been an industry leader in providing full service retirement plan solutions to banks nationwide. Pentegra offers a full spectrum of qualified retirement programs. With every retirement solution, we bring the same focus—relieving banks of the fiduciary and administrative burdens that come with sponsoring a retirement plan. Today, Pentegra administers/manages over 50,000 retirement plans and more than $13 billion in retirement plan assets.

Experience Matters.

Overview

How Pentegra Helps

In Depth

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