Huntington National Bank and PAi Retirement Services have partnered to launch the Huntington 401(k) Center for Business solution, designed specifically for business owners and their employees.
According to a press release, the Huntington 401(k) Center for Business provides small and mid-sized businesses with streamlined support for all of their retirement plan needs. Huntington’s wealth management arm—the Huntington Private Bank—serves as the 3(38) fiduciary advisor responsible for the investment management services, while PAi handles the plan administration, which includes its CoPilot personalized recordkeeping services. Businesses also will have access to PAi’s secure, participant-focused platform.
“It can be challenging and time-consuming for small businesses to properly manage their 401(k) plan’s investment menu, such as decoding market volatility, fluctuating interest rates and the myriad of investment options offered to plan participants,” said Frank Zugaro, head of the Huntington Private Bank’s Retirement Plan Services business. “That’s where we, as the fiduciary advisor, can step in and leverage our investment experience and retirement insights to help business owners look out for their employees and help them prepare for retirement.”
Pairing PAi’s Customer Care Specialist team with CoPilot’s features that promote plan participation and engagement makes saving for retirement hassle-free, according to the firms. The personalized alerts system works to keep participants on track toward retirement readiness, while the Years of Retirement calculator provides their savings in terms of years and not just dollars.
This fully bundled 401(k) service includes Huntington’s role in proactively gathering resources for facilitating ongoing plan fiduciary consulting, advice, investment selection and monitoring, recordkeeper due diligence and regulatory compliance.
More information is at pai.com/huntington.
