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.
“Fiduciary services are becoming increasingly important to retirement plan sponsors, particularly in today’s environment,” says Pentegra President and CEO John Pinto. “With our new Fiduciary Scorecard, we can offer our clients an even more comprehensive solution. As an institutional fiduciary, our goal is to help our clients minimize risk and ensure that their retirement plans are being managed properly.”
Pentegra says the tool will help sponsors in their dealings with senior management and boards, assuring them that they are taking the right steps when it comes to plan oversight and plan success. Pentegra says the scorecard will also make it easier for sponsors to administer their plans.
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