Press Release

Industry Leaders Launch Operational Fiduciary Services Firm

Issued by Group Plan Systems [GPS]

Nov. 30, 2021

San Diego, CA – The Pension Resource Institute, LLC (PRI), a retirement plan compliance, technology and consulting firm for banks, broker‐dealers and investment advisers, and Waypoint Fiduciary, LLC (Waypoint), a fiduciary consulting firm serving plan sponsors and financial institutions, have formed a new company, Group Plan Systems (GPS), to serve as an independent, operational fiduciary for group plan arrangements.

Pete Swisher, Founder of Waypoint and Managing Partner of GPS, notes: “PRI has always been on a short list of potential partners when thinking about how to keep abreast of legislative and regulatory changes and deliver operational fiduciary services in an efficient manner.” Jason C. Roberts, ERISA attorney, CEO of PRI and a Managing Partner of GPS echoes, “Pete knows more about the operational details of group retirement plans than anyone I’ve met in my career. He has helped a number of PRI member firms establish successful MEPs, and we began discussing a partnership in early 2020, shortly after SECURE Act created Pooled Employer Plans (PEPs).” 

A core belief of GPS is that the retirement plan industry has done a terrific job of supporting employers in managing investments yet still has room to grow in terms of supporting them from an operational perspective. According to Swisher, GPS plans to “elevate retirement plan governance by applying the same rigor to operations that employers expect from their investment professionals. By thoughtfully leveraging technology and well‐defined processes, we are able to deliver named fiduciary oversight of operations to group plan arrangements at scale.” 

GPS is available to serve in a variety of capacities, including serving as a Pooled Plan Provider for PEPs, named fiduciary on group or individual plans, and 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 created by and maintain compliance with new and evolving laws and regulations,” Roberts said.

About GPS:

GPS helps financial institutions and employers identify, understand, and execute their responsibilities in group plan arrangements. For more information, please visit our website www.groupplansystems.com, or email us at info@groupplansystems.com.

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