We’re excited to share that our team at Benefits Administrators has just been awarded our CEFEX Certification for the 13th consecutive year! This achievement holds significant importance in the retirement benefits field. Receiving the CEFEX certification means that we have voluntarily undergone annual financial audits conducted by independent experts. The results of these audits affirm that we consistently meet our objectives and maintain top-notch implementation procedures while ensuring full transparency and adherence to the highest professional standards in administrative services.

Benefits Administrators is proudly included among the 39 firms to receive certification. There are approximately 1,500 TPAs nationwide, according to recent data from American Funds. This distinction underscores our commitment to excellence in the retirement plan consulting industry.

To give you a deeper understanding of why this certification is crucial for us, let me explain a bit about the organization behind it. The Centre for Fiduciary Excellence, or CEFEX, is part of Broadridge Retirement and Workplace. They collaborate closely with qualified professionals to develop comprehensive assessment programs aimed at enhancing the practices of investment stewards, advisors, recordkeepers, Third Party Administrators (TPAs), and Retirement Plan Consultants.

By partnering with a CEFEX-certified TPA like Benefits Administrators, organizations seeking guidance and administrative support can count on us to uphold key due diligence obligations, including:

– Adhering to ethical sales practices
– Dedicating sufficient resources to protect your plan’s Personally Identifiable Information (PII)
– Accurately and clearly disclosing fees and services
– Providing support for DOL and IRS audits
– Maintaining a documented disaster plan that is tested annually for effective data recovery
– Following a consistent plan governance process
– Employing experienced staff to address technical retirement plan compliance questions
– Requiring staff to complete and pass Continuing Education Courses
– Maintaining adequate errors and omissions insurance coverage
– Having a documented succession plan in place
– Ensuring accuracy and compliance for your company’s retirement plan

When you trust Benefits Administrators to oversee your organization’s retirement plans, you can feel confident knowing that we have a solid foundation of demonstrated excellence. Our commitment to transparency and industry best practices is aimed at consistently achieving your retirement plan goals and objectives. We take our fiduciary responsibilities seriously, ensuring they are upheld with the utmost diligence and coordination, which in turn fosters client trust and satisfaction.

Thank you for being a part of our journey!