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The term “administrator” seems to imply a level set of knowledge that does not necessarily reflect the employee’s work experience or education. The industry is mostly self-taught, so distinguishing competency levels is not standardized. Instead, the new person gets hired, a caseload gets assigned, there is some oversight for a while (until the other employees are busy with their respective caseloads) and fingers crossed. You never know what a new employee knows or doesn’t know. In a growing firm, where hiring can be more frequent, evaluating your current employees to understand your need for future employees is a must.READ MORE
Most TPAs operate as a practice; groups of administrators have their clients and they service them the way that they always have. Over the last 10 years, competition and fee compression has signaled a change in the industry. With TPA Division offices in South Carolina, North Carolina, and Ohio, Pentegra’s technology has enabled them to adapt and to grow in both the core TPA business, as well as its fully-outsourced 3(16) Plan Administrator services despite the challenges.READ MORE