INTAC Announces its Fourth ASPPA Certification Renewal for Retirement Plan Service Provider Excellence
Tuesday, August 16, 2016
Ridgewood, NJ – Intac Actuarial Services is proud to announce its CEFEX certification renewal of the prestigious Service Provider Excellence in Standards of Practice for Retirement Plan Service Providers. CEFEX (Centre for Fiduciary Excellence), provides an independent recognition of a firm’s conformity to a defined Standard of Practice. The CEFEX designation implies that a firm can demonstrate adherence to the industry's best practices, as set forth by the American Society of Pension Professionals & Actuaries (ASPPA), and is positioned to earn the public's trust.
The ASPPA Standard of Practice describes how a third party administration (TPA)/actuarial firm can assist plan sponsors in fulfilling their fiduciary obligations. The Standard includes best practices for organization, human resources, operations, planning, systems, and disclosure, as defined by a cross-industry task force and is modeled after the “Prudent Practices for Investment Stewards” published by fi360, Inc. The rigorous certification process, which involves a comprehensive assessment of the firm’s operational data, practices and procedures, concludes in a full-day, on-site engagement of interviews with INTAC’s key employees by a CEFEX representative.
The CEFEX certification as explained by CEFEX managing director, Carol Panksep “provides assurance to fiduciaries and their stakeholders that INTAC has demonstrated adherence to the best practices in the recordkeeping and administration industry. The successful completion of the independent assessment is an extraordinary indication of a firm’s accountability to its clients.”
“It is with great pride that our outstanding and hard-working team of Operations and IT professionals continually fulfill the rigorous requirements to maintain our CEFEX certification,” states Charles Rosenberg, INTAC managing partner. “We are extremely honored to be among the few firms in the NY tristate area to achieve this prestigious designation. This esteemed endorsement demonstrates INTAC’s highest level of commitment of trust and exceptional service to our valued clients.” For additional information on the certification program and CEFEX, please go to www.cefex.org. A full copy of the Standard of Practice and INTAC’s official certificate are also available on the website.
Intac Actuarial Services has been providing complete administration and consulting to employer sponsored retirement plans since 1977. INTAC’s professional staff of experienced and innovative plan administrators designs, creates, and continually refines a wide range of qualified retirement plans. We are committed to meeting our clients’ needs by providing these services in a timely, accurate and cost-effective manner. INTAC has been recognized by NJBIZ as New Jersey’s Top Defined Contribution Provider for five consecutive years as well as one of the Best Places to Work in NJ. For more information, visit www.intacinc.com.