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The Ins and Outs of Fiduciary Outsourcing for Community Banks

…C-Suite at community banks, which can find outsourcing very appealing. Not only is the passing along of fiduciary responsibilities one less burden for community bank managers, allowing them to focus on day-to-day business and obviating the need for them to become qualified plan experts, but…

The BOLI Boon for Community Banks

A blog by Kevin Killian, Vice President & Director of BOLI Services, Pentegra Retirement Services – May 12, 2016 Bank-owned life insurance (BOLI) can be a valuable asset for banks of all sizes, including community banks. Offered by most major insurance carriers, BOLI is a…

Our Community Commitment

nonprofits, and strengthen the quality of life in our community. Through its partnership with Volunteer New York, Pentegra’s employees have participated in meaningful community outreach efforts. Pentegra was recently awarded the Business Council of Westchester’s Hall of Fame “Corporate Citizenship Award” in recognition of its…

Getting Our Hands Dirty

…serve, volunteering helps us connect with our community. We encourage our staff to make a positive difference in our community in many ways—whether by making contributions or donating their time to local non-profit organizations. Seeing my staff bonding over hard work and volunteering their time…

What Is The Difference Between A 401(k) Plan And A 403(b) Plan?

…is the level of employer involvement. If a plan falls under ERISA there is a significant amount of employer involvement that is necessary. The employer chooses the types of investments option based on what is best for the plan and sends the payments to the…

The “Total Rewards” Approach to Attracting and Retaining Talent

can be a huge factor in both attracting and retaining talent. These can include: Creating workplace flexibility, such as working from home or having flexible work hours Providing paid and unpaid time off Encouraging participation in community awareness and involvement programs Whether one considers it…

Which Types of 403(b) Plans Are Subject to ERISA?

…in order to claim an exemption from ERISA: Participation must be voluntary. All rights under the annuity contracts or custodial accounts must be enforceable by the employee or beneficiary (not the employer.) Involvement of the employer must be limited to certain restricted activities. The employer…

“Ten Years, 300 New Clients: A MEP Strategy”

Multiple Employer Plans (MEPs) are both brand new and very old. The most venerable MEPs are nearly a century old and still going strong, with billions of dollars in assets. The newest MEPs are nimble, custom, community-based programs founded by like-minded employers with the help…

BOLI– Why the Benefits Outweigh the Concerns

…the tax-free death benefit with a charitable organization – perhaps a charitable foundation that the bank already has in place, or one that the decedent and/or his or her survivors have supported. In doing so, not only are you serving the community, but there’s also…

The “Definitive” List of Best States to Retire In

Many retirees seek to relocate after their careers are over, for a variety of reasons: Wanting to downsize, to live in a community of like-minded (and similarly aged) people, or moving closer to (or, in some instances, further away from) family and friends. But, assuming…