Industry insiders Pete Swisher and Jason Roberts have teamed up to create Group Plan Systems (GPS), the duo announced Nov. 30.
The new firm’s capabilities include serving as a Pooled Plan Provider (PPP) for Pooled Employer Plans (PEPs) and as a named fiduciary on group and individual plans, as well as consulting to help others bring their own solutions to market. “We believe we’re well positioned to help financial institutions and employers take advantage of the opportunities and maintain compliance with new and evolving laws and regulations,” said ERISA attorney Roberts, CEO of the Pension Resource Institute (PRI), a compliance, tech and consulting firm serving banks, broker-dealers and investment advisors. Roberts and Swisher will serve as Managing Partners of GPS.
Their new venture will “elevate retirement plan governance by applying the same rigor to operations that employers expect from their investment professionals,” said Swisher, Founder of Waypoint Fiduciary, LLC, a fiduciary consulting firm serving plan sponsors and financial institutions. “By thoughtfully leveraging technology and well-defined processes, we are able to deliver named fiduciary oversight of operations to group plan arrangements at scale.”
“Pete knows more about the operational details of group retirement plans than anyone I’ve met in my career,” said Roberts. “He has helped a number of PRI member firms establish successful MEPs, and we began discussing a partnership in early 2020, shortly after the SECURE Act created PEPs.”
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