Independent ERISA 3(16) Administrative Service
Red Bank, NJ—Northeast Professional Planning Group, Inc. (NPPG) a leading national employee benefits, retirement planning and actuarial consulting firm, with regional focus in NY, NJ, CT and PA has continued its expansion and growth. This growth comes in the form of increasing services offered via NPPG Fiduciary Services LLC (NPPG-FS). This advancement arises from integrating new technologies and expanded services with their ERISA 3(16) Administrative Fiduciary Services.
Founder and President of NPPG and NPPG-FS, Michael M. Salerno, confidently states “We are one of the only, possibly the only, retirement plan fiduciary firm that offers independent ERISA 3(16) Administrative Fiduciary Services to Plan Sponsors where NPPG is not providing third party administration on the respective plan.” In simpler terms, NPPG-FS operates as the ERISA 3(16) Plan Administrator—taking on a majority of the fiduciary liability to any respective retirement plan, regardless of whether NPPG is the Third Party Administrator (TPA).
As the need continues to grow for comprehensive retirement plan fiduciary services, NPPG-FS is expanding its partnerships with investment advisors, investment managers and investment co-fiduciaries as well as recordkeepers, payroll companies and TPAs to deliver their suite of fiduciary services including ERISA 3(16) Administration, 3(21) Co-fiduciary, and 3(38) Investment Manager oversight and protection.
Mr. Salerno explains “We pride ourselves on being able to work with select national and local TPAs, to deliver our 3(16) Administrative Fiduciary Services to Plan Sponsors”. Mr. Salerno also added “The TPAs we work with must pass an internal due diligence review, then once that is successfully completed we can act as an ERISA Plan Administrator providing 3(16) fiduciary oversight to their client’s plans.”
NPPG maintains its status as an industry leader by proactively offering services that respond to the needs of Plan Sponsors and their participants. Mr. Salerno states “There is a growing concern regarding identity theft and plan distributions, especially in cyberspace. To address this cyber security concern, NPPG has instituted measures to verify the authenticity of a distribution request; going above and beyond to ensure the identity of each participant. This is in addition to email encryption techniques and secure Plan Sponsor web portals already in place at NPPG.”
ABOUT NORTHEAST PROFESSIONAL PLANNING GROUP, INC.
Northeast Professional Planning Group, Inc. (NPPG) is an independent full-service employee benefits, retirement planning and actuarial consulting firm; NPPG also provides Retirement Plan Third Party Administration (TPA). NPPG administers more than $2 billion in assets and more than 2,000 plans for clients nationwide. A full suite of ERISA compliance services, including ERISA 3(16) Administrative Fiduciary and 3(21)/3(38) Investment Fiduciary, are provided by NPPG Fiduciary Services (NPPG-FS) and NPPG Investment Services (NPPG-IS) respectively. NPPG operates with our clients’ best interest in mind, customizing solutions to meet their business and financial goals. NPPG clientele is located throughout the nation with regional focus in NY, NJ, PA and CT. Clients include members of the New York stock exchange, school boards, government agencies, public companies as well as small entrepreneurial businesses.