RSM McGladreys Retirement Resources joins select group of certified record keepers third party administrators
MINNEAPOLIS, MN – The Retirement Resources group of RSM McGladrey, one of the nation’s leading accounting, tax and business consulting firms, has achieved record-keeper certification for its third-party administration services by the American Society of Pension Professionals and Actuaries (ASPPA).
ASPPA certification is based on an independent audit of a record-keeper’s ability to support plan sponsor and plan participant requirements. Audited by Roland | Criss, an independent provider of certification audits, this is the only certification that attests to the highest level of record-keeping excellence.
Since record-keepers play an integral role in helping fiduciary’s fulfill their obligations, it’s important to provide a program where they can demonstrate their adherence to high-level standards,” said Brian Graff, executive director of ASPPA. “This certification does that.”
“Since the formation of RSM McGladrey’s Retirement Resources group more than 40 years ago, our team has been committed to excellence in our administration and consulting services,” said Executive Managing Director of RSM McGladrey’s Retirement Resources group, Rosemarie Panico-Marino. “ I am proud that we have attained the ASPPA record-keeper certification because it’s independent validation of our competencies, integrity, and processes. Record-keeping providers, advisors and plan sponsors should have an additional level of confidence working with RSM McGladrey knowing that our third-party administration services have passed this rigorous process.”
In its continued effort to achieve a standard of excellence and promote trustworthiness through a stringent audit process among retirement plan record-keepers and third-party administrators, an ASPPA task force established 17 critical practices with more than 100 separate criteria against which certification audits are conducted. ASPPA's program helps plan sponsors identify record-keeping firms that have passed a rigorous test of their fiduciary support capability. The annual certification process involves a detailed assessment of operational data and procedures, followed by on-site interviews with key personnel.
RSM McGladey is registered here, where its certificate can be viewed. A summary of the Standard of Practices for Record-Keepers can be viewed by clicking on the certificate.
“The ASPPA certification is different from other industry credentials because it’s based on a third-party audit process which is performed annually,” said Ron E. Hagan, CEO of Roland|Criss and ASPPA task force member. “The process that RSM McGladrey completed tests issues such as fee transparency, quality controls, financial strength, technology support, organizational leadership and other attributes. It is the first standard of its type and is essential for measuring conduct, promoting competence, and attesting to trustworthiness.”
About RSM McGladrey’s Retirement Resources
RSM McGladrey Retirement Resources is a national non-producing third party administrator backed by an established accounting firm. Our 5,000 plan sponsor relationships are supported by our nationwide network of more than 150 employees. RSM McGladrey has been helping organizations establish and maintain retirement plans for more than 40 years. RSM McGladrey actively participates with ASPPA and the AICPA and is involved in discussions for future accounting and retirement plan legislation.
About RSM McGladrey
RSM McGladrey is a leading professional services firm providing accounting, tax and business consulting. RSM McGladrey operates in an alternative practice structure with McGladrey & Pullen LLP, a partner-owned CPA firm that delivers audit and attest services. Through separate and independent legal entities, they work together to serve clients’ business needs. Together, the companies rank as the fifth largest U.S. provider of accounting, tax and business consulting services (source: Accounting Today), with 7,000 professionals and associates in nearly 90 offices. RSM McGladrey Inc. and McGladrey & Pullen LLP are member firms of RSM International, an affiliation of independent accounting and consulting firms.
ASPPA is the largest individual member oriented national organization consisting of retirement plan professionals who provide consulting and administrative services for qualified retirement plans covering millions of American workers. Our broad-based membership gives ASPPA unique insight into current practical applications of ERISA and other legislation that focus on the issues faced by employers with qualified retirement plans. While ASPPA’s membership is diverse, it is united by a common dedication to education and preservation of the employer-sponsored retirement plan system.
Founded in 1986, Roland|Criss is the leading independent, standards-based provider of certification audits. Roland|Criss is the first global organization to assist Investment Advisors, Investment Stewards, Investment Managers, and Recordkeepers convey a fiduciary and fiduciary-support identity that conforms to the highest standard of excellence. Once tested and approved, these organizations earn the Center for Fiduciary Excellence (CEFEX) seal of excellence.