WASHINGTON – ASAE announces three major enhancements to the ASAE 401(k) Retirement Program, formerly known as the ASAE Retirement Trust. The changes are inclusive of a new fiduciary role, an enhanced fund line-up and a reduction in fees.
Since the ASAE Retirement Trust was first introduced in 2016, ASAE has deemed it imperative to include unique fiduciary support to those utilizing its retirement plan. The ASAE Retirement Trust Committee, consisting of ASAE professionals and ASAE member representation, will take on the role as Trustee of the Group Trust. “By bringing this duty ‘in house’, the Committee will have direct oversight of providers and have better control over the direction of the program to ensure it meets the needs of the association sector”, said ASAE Business Services, Inc. President, Betsy Piper/Bach.
Now with privileged buying power through the Group Trust, which is comprised of the ASAE member retirement plans, a new fund line up with lower institutional fund pricing will be available as of April 1st. In addition, Pensionmark will continue as the 3(38) Investment Manager, providing additional fiduciary relief of fund selection and monitoring which alleviates the need for establishing an Investment Committee by individual plan sponsors. Empower Retirement will also continue as the recordkeeper and custodian of the plan assets, offering an online experience designed with behavioral finance in mind.
“As the premier source of essential tools for the association industry, ASAE is proud to offer the association and nonprofit community the newly enhanced and innovative ASAE 401(k) Retirement Program. It is designed to drive strong saving behavior in order to better prepare our members for a successful retirement experience,” said ASAE President and CEO John H. Graham IV, FASAE,CAE.
To learn more about the ASAE 401(k) Retirement Program, visit https://www.asae401k.org.
About ASAE: The Center for Association Leadership
ASAE is a membership organization of more than 44,000 association executives and industry partners representing 7,400 organizations. Its members lead, manage, and work in or partner with organizations in more than a dozen association management disciplines, from executive management to finance to technology. Together, they create a vibrant community that makes the world smarter, safer, and better every day. With support of the ASAE Foundation, a separate nonprofit entity, ASAE is the premier source of learning, knowledge, and future-oriented research for the association and nonprofit profession and provides resources, education, ideas, and advocacy to enhance the power and performance of the association and nonprofit community. Visit ASAE at asaecenter.org.
About ASAE Business Services, Inc.
The mission of ASAE Business Services, Inc. (ABSI), is to be the trusted source for essential business services for associations and nonprofits. The wholly-owned subsidiary of ASAE, ABSI supports ASAE’s efforts to promote excellence in association management. For more information about ABSI, please visit absisolutions.com.