American Trust Retirement Launches WorkSaveRetire Program
The retirement plan offering is designed to streamline plan operations for plan advisers and sponsors.
American Trust Retirement, a provider of retirement plan solutions to advisers serving the small- and mid-sized plan market, unveiled its WorkSaveRetire program, which brings together various existing services with the goal of streamlining qualified retirement plan operations.
American Trust Retirement will serve as the fiduciary to the plan and its investments as the WorkSaveRetire team manages the administrative tasks of operating the plan, which in turn will allow advisory firms to focus on running their businesses, according to the firm.
“By entrusting the operation of retirement plans to us, advisory firms are liberated to focus on servicing their existing clients and expanding their businesses while overseeing and monitoring plan performance in a simple and streamlined way,” Jonathan Duggan, senior vice president and national sales manager at American Trust Retirement, said in a statement.
He adds that employers can shift the responsibility and fiduciary liability of managing a retirement plan to experts at American Trust Retirement.
The firm stated that although plan sponsors might have a basic grasp of their fiduciary duties, they often underestimate the personal risks and obligations associated with being a fiduciary.
WorkSaveRetire is also meant to help deliver better participant outcomes. By combining smart plan design features with a focus on participant advice, American Trust Retirement stated that it can better position plan participants to achieve their long-term goals.
“With our team handling everything from approving participant distributions and managing plan investments to completing all required annual reporting, there’s never been a better time to work with American Trust Retirement,” Duggan said in a statement. “Firms adopting our plan design features and personalized managed accounts experienced a dramatic improvement in the percentage of participants on track to retire successfully.”
American Trust’s services include retirement-related offerings including recordkeeping, personalized managed account offerings, payroll integration and individual retirement accounts.