After a rigorous review process, Intac Actuarial Services (INTAC) is proud to announce its CEFEX certification of the prestigious Service Provider Excellence in Standards of Practice for
Retirement Plan Service Providers. CEFEX (Centre for Fiduciary Excellence) provides an
independent recognition of a firm’s conformity to a defined Standard of Practice. It implies that a firm can demonstrate adherence to the industry’s best practices, as set forth by 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 includes best practices for organization, human resources, operations, planning, systems and disclosure, as defined by a cross-industry task force and is modeled after the “Prudent Practices for
Investment Stewards” published by fi360, Inc. The stringent nearly one-year certification process, which involved a comprehensive assessment of the firm’s operational data, practices and procedures, culminated in a full-day, on-site engagement of interviews with INTAC’s key
employees by a CEFEX representative.
“The CEFEX 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,” said CEFEX Managing Director Carol Panksep.
“It is with great pride that our team of outstanding pension professionals successfully fulfilled the rigorous requirements to achieve certification by the CEFEX organization. We are extremely honored to be the only New Jersey TPA/actuarial firm to achieve this prestigious designation,” said Charles Rosenberg, INTAC managing partner and a member of EO New Jersey.
For additional information on the certification program and CEFEX, please go to www.cefex.org. A full copy of the Standard of Practice and INTAC’s official certificate are also available on the website.
Intac Actuarial Services has been providing complete administration and consulting to
employer sponsored retirement plans since 1977. INTAC’s professional staff of experienced and innovative plan administrators designs, creates, and continually refines a wide range of
qualified retirement plans. We are committed to meeting our clients’ needs by providing these services in a timely, accurate and cost-effective manner. INTAC has been recognized by NJBIZ as New Jersey’s Top Defined Contribution Provider for five consecutive years. For more information, visit www.intacinc.com.