IPX Master Recordkeeping Transforms 403(b) Plans While Keeping Provider Choice
CENTENNIAL, CO. — August 29, 2023
Two years after the creation of the IPX Plan Governance Program (PGP), IPX Retirement® is transforming standard recordkeeping and administration within the 403(b)/457 industry while preserving and strengthening the multi-product industry. By implementing Master Recordkeeping in addition to the PGP, RIAs, benefits providers, and plan consultants have simplified administration and reduced plan costs in their respective 403(b) and 457 plans.
IPX Retirement has created the industry’s only master recordkeeping platform for tax-exempt plans that centralizes multiple investment providers on a single platform, streamlining plan administration while offering custom-designed, permission-based plans with access to multiple investment providers and multiple products, including legacy account data.
“As an innovative provider of retirement plan services to public sector employees, particularly teachers and municipal employees, IPX is proud to work with partners across the industry,” said Bill Mueller, CEO. “Plan governance delivers a more flexible solution, improving options for employees as they prepare for retirement. Using a Master Recordkeeper approach helps plan sponsors reduce the burden of plan administration while maintaining a high standard of fiduciary protection for the employer.”
IPX Retirement is currently implementing the Master Recordkeeper and PGP solution with Higgenbotham Executive Benefits, as part of their RISE benefit program.
“Higginbotham and the RISE Savings and Investment Program are excited to partner with IPX to provide Master Recordkeeping for our 403(b) plan sponsors,” stated Kevin Grant, MSFS, CFP®, President, Higginbotham Executive Benefits. “Participants want choices in retirement investment providers but also low costs, consistent oversight, and support from trusted advisors. IPX has the most effective platform we’ve found to help us offer that kind of seamless experience to Texas educators.”
IPX also recently partnered with Verity Advisors to offer a plan governance solution in conjunction with their Vyntanna program for North Carolina school districts.
“Improved 403(b) plans come from industry leaders working together”, said Rob McLean, Chief Governance Officer, Vyntanna and Verity Advisors. “Basic plan management through the introduction of governance programs helps create better multi-provider plans. We are working together to bring better education and options to millions of public school teachers and support personnel.”
The PGP empowers advisors and consultants as they work with plan sponsors and school business officials in the non-ERISA 403(b)/457 space. The Plan Governance Program consists of five components essential to a well-governed plan.
For more information about Master Recordkeeping, visit our Master Recordkeeping page.
About IPX Retirement
IPX Retirement is a leading provider of trust, custody, IRA, and recordkeeping services to the retirement plan industry. Our innovative multi-vendor, multi-provider approach delivers superior value for financial advisors, plan sponsors, investment providers, TPAs, and the investors they serve.