Group Plan Systems, a San Diego, California-based operational fiduciary for employer-sponsored retirement plans, has signed an agreement with JULY Business Services to serve as record keeper and third-party administrator to a pooled-employer plan for which Group Plan Systems will serve as the pooled plan provider.
The plan is constructed to serve start-up and small plans but can be used by broker-dealers and investment advisers to develop group plans for any size client, said Jason C. Roberts, an ERISA attorney and co-founder of GPS. “We have no interest in hiring or firing 3(38) managers, so we have carefully engineered the plan documents to put that duty solely in the hands of each employer, which is consistent with the letter and spirit of the SECURE Act.”
Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.
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Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.
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