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Increased Regulatory Requirement for Retirement Plans

Institutions are facing increased regulatory requirements on multiple fronts.  One area being targeted with harsh regulatory requirements is retirement plan administration.  Plan Sponsors (e.g. HBCUs) face a heightened degree of responsibility.  They must continue to manage the institution's retirement plans using comparatively fewer resources in an increasingly challenging regulatory environment.  The challenges are even more significant for smaller plans.  Despite these disadvantages, institutions must meet their fiduciary obligations under the Employee Retirement Income Security Act of 1974 (ERISA).

The PAL Project is designed to assist HBCUs in achieving their institutional objectives and meeting their ERISA fiduciary duties.  Those institutions participating in the PAL Project can benefit from premium plan management from the PAL Project's strategic investment partner, Verity Asset Management.  When hired as a fiduciary, Verity Asset Management will provide comprehensive services including the following:

  • Review of the institution's current plan documents and design,
  • Assistance in ongoing monitoring of the proposed investment funds,
  • Providing reports to the plan committee on a quarterly basis.

 

Advice Matters

Verity Asset Management, an SEC-Registered Investment Adviser, provides the implementation, investment management, and administrative support for the PAL Retirement and Financial Wellness Program.

In 2009, when the University of North Carolina General Administration took initiative to centralize a 403(b) plan offering across all 17 constituent campuses, Verity was highly engaged both as a provider within the UNC System and as an investment advisor to a large constituency of individual participants.

Today, Verity provides investment advice to faculty staff and administrators in over 300 university plan environments across the nation, through a network of independent investment advisors.

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Higher Education Is Our Specialty

Please take a look at Verity's brochure that will give you a general understanding of the expertise, dedication, and high regard that Verity has for institutions of higher education.