Ridgewood, NJ, July 21, 2017 --(PR.com
)-- Intac Actuarial Services is proud to announce it has earned renewal of the prestigious CEFEX (Centre for Fiduciary Excellence) Service Provider Excellence certification for the fifth consecutive year. CEFEX provides an independent recognition of retirement service provider’s conformity to a defined Standard of Practice. The CEFEX designation implies that a firm demonstrates adherence to the industry's best practices, as set forth by the American Society of Pension Professionals & Actuaries (ASPPA), and is positioned to earn the public's trust.
The ASPPA Standard of Practice describes how a third party administration (TPA)/actuarial firm can assist plan sponsors in fulfilling their fiduciary obligations. The Standard, which includes best practices for organization, human resources, operations, planning, systems, and disclosure, is modeled after the “Prudent Practices for Investment Stewards” published by fi360, Inc. The rigorous certification process, which involves a comprehensive assessment of the firm’s operational data, practices and procedures, concludes in a full-day, on-site engagement of interviews with INTAC’s key employees by a CEFEX representative.
According to CEFEX managing director, Carol Panksep “Certification provides assurance to fiduciaries and their stakeholders that INTAC has demonstrated adherence to the best practices in the recordkeeping and administration industry. The successful completion of the independent assessment is an extraordinary indication of a firm’s accountability to its clients.”
“It is with great pride that our outstanding and hard-working team of Operations and IT professionals continually fulfill the rigorous requirements to maintain our CEFEX certification,” states Charles Rosenberg, INTAC managing partner. “This esteemed endorsement demonstrates our firm’s highest level of commitment of trust and exceptional service to our valued clients.” INTAC, now celebrating its 40th year in business, was the first third party administration firm in New Jersey to earn this highly respected designation. For additional information on the certification program and CEFEX, please go to www.cefex.org, where a full copy of the Standard of Practice and INTAC’s official certificate are available.