(401)k Plan Participant Loans – What to Keep in Mind
August 7, 2023Benefits Administrators Privacy Policy
December 8, 2023BENEFITS ADMINISTRATORS, LLC DEMONSTRATES OPERATIONAL INTEGRITY AND SERVICE PROVIDER EXCELLENCE
Benefits Administrators, LLC was founded on principles of accuracy, integrity, and exceptional client service. We are also committed to continual improvement. Our dedication to doing what is best for you, our clients, prompted us to utilize CEFEX, the Centre for Fiduciary Excellence, LLC to audit our processes.
We contacted the CEFEX organization and requested an independent analyst provide us with a comprehensive independent review. The process was rigorous and their assessment took months to complete. Now, after going through the audit and carefully evaluating our internal procedures, we are proud to share with you that Benefits Administrators, LLC has renewed for the 12th year our CEFEX certification.
“We believe this audit process shows our clients and advisors that we provide best in class retirement plan expertise.” said Leslie O’Bryan, CEO. That is why, we believe the CEFEX-ASPPA certification process and audit aligns with our mission.
Our CEFEX-ASPPA certification signifies our commitment to adhere to a standard of excellence and a dedication to Administration best practices.
CEFEX is an independent global assessment and certification organization. They work closely with industry experts to provide comprehensive assessment programs to improve the practices of investment advisors, stewards (retirement plans, foundations and endowments, etc.), investment managers, and other financial service providers. CEFEX also confers a formal certification for those firms that are willing to undergo a comprehensive audit and able to demonstrate that they fully conform to high standards that are substantiated in law and proven best practices.
Specifically, for our firm, we sought The American Society of Pension Professionals & Actuaries (ASPPA) Certification for Service Provider Excellence. This certification program was developed to recognize firms providing recordkeeping and/or administration services to retirement plans that adhere to a standard of excellence and a dedication to best practices. The program, which requires an annual certification renewal, encourages a culture of good governance and oversight at certified firms. The certification allows firms to distinguish themselves in a competitive marketplace and establish credibility with current and prospective clients and advisors.
The CEFEX-ASPPA certification offers testament to the fact that we understand the importance of paying close attention to everything from high level strategies and policies all the way down to the details of our business practices. The CEFEX Mark signifies that our clients can be confident that we are worthy of their trust.
We wanted to share news of the important recognition of our commitment to operational integrity, service provider excellence and continuous improvement that we have earned. CEFEX-ASPPA certification is yet another way we tangibly demonstrate that serving our clients best interests is our highest priority.
For more information about Benefits Administrators, LLC, please contact us at lobryan@benadms.com and 859-309-7946.
About Benefits Administrators, LLC
Benefits Administrators is a third party administrative firm which has been in business since 1995 with more than 1,200 clients. Our Company is compensated on a fee-for-service basis. We provide services which include plan design; plan documents; discrimination testing; recordkeeping; reports to participants, plan sponsors and governmental agencies; and other contract administrative services for the benefit of plan sponsors and plan participants. These services are provided for sponsors of qualified and nonqualified retirement plans.
About CEFEX®:
CEFEX®, Centre for Fiduciary Excellence, LLC, a Fi360® company, is an independent certification organization. CEFEX works closely with industry experts to provide comprehensive assessment programs to improve the fiduciary practices of investment stewards, advisors, recordkeepers, administrators and managers. CEFEX is based in Pittsburgh, PA. Learn more at www.cefex.org via Twitter or on LinkedIn.