A $3.0B+ multi-plan association offers a DC solution to more than 1,000 member plans. Their DC plan offers daily valued investments across asset classes with custom fund-of-fund solutions.
Client needs a third-party trustee with extensive operational experience in CITs, including complicated successor trustee transactions for proprietary collective vehicles. Collective Investment Trust is a proprietary vehicle only available to plan members. They are also seeking a platform solution that could be easily adapted to associations.
The trustee must be able to operationally handle custom fund-of-fund structures, daily participant activity, straight-through processing, and needs to be able to implement successor trustee and conversion with legacy trustee.
- Managed successor trustee transaction with no participant disruption
- Provided technology to handle custom reporting, and multi-manager custom fund-of-funds
- Ability to trade with underlying investment managers across investment vehicle types
- Handled the needs of a proprietary trust only available to member associates
- Developed a platform solution for various parties (custody, audit, investment advisor)
- Able to integrate into investment committee structure of the member association
- Managed operational challenges and process integration with record keeper for daily reconciliation at both trust and plan levels
Depth of experience in ERISA plan management and handling complex trust solutions, including successful prior successor trustee transactions Proven operational expertise in fund-of-fund administration