Huntington provides investment management while PAi handles plan administration
Columbus, Ohio, August 3, 2022 /PRNewswire/ — To support small businesses with competitive employer-sponsored retirement programs, National Bank Huntington and PAi Retirement Services have partnered to launch the Huntington 401(k) Center for Business solution designed specifically for homeowners. companies and their employees.
The Huntington 401(k) Center for Business offers small and medium-sized businesses simplified support for all their retirement plan needs. As one of the top 30 defined contribution plan consultancies1, Huntington’s wealth management arm, Huntington Private Bank, acts as trustee 3(38) responsible for investment management services, while PAi handles administration of the plan, which includes its recordkeeping services customized CoPilot. Businesses will also have access to PAi’s secure, participant-focused platform.
Huntington, which is the nation’s largest originator by volume of Small Business Administration 7(a) loans for the fourth consecutive year, supports thousands of small businesses with products, services and expertise to help them thrive. The bank works closely with businesses at every stage of their life cycle to help them make decisions and ensure their health and well-being.
“It can be difficult 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. investment available to plan participants,” said Frank Zugaro, Head of Retirement Plan Services at Huntington Private Bank. “That’s where we, as fiduciary advisors, can step in and leverage our investment experience and retirement knowledge to help business owners take care of their employees and help them grow. help prepare for retirement.”
Combining PAi’s award-winning team of customer service specialists with CoPilot features that promote plan participation and engagement makes saving for retirement hassle-free. The personalized alerts system helps plan members stay on track to prepare for retirement, while the Retirement Years Calculator provides their savings in terms of years, not just dollars.
“We are excited to work with Huntington to provide this new solution to business owners and their employees,” said Amy Herman, director of sales and marketing at PAi. “Because pension plans are one of the most important elements of today’s benefits that employers use to attract and retain employees, partnering with a trusted industry expert like Huntington fills a need in industry while supporting small business owners.”
This fully bundled 401(k) service includes Huntington’s role in proactively gathering resources to facilitate fiduciary advice, guidance, investment screening and monitoring, accountant due diligence and regulatory compliance.
To learn more about the Huntington 401(k) Center for Business, visit pai.com/huntington.
1 Compared to the National Association of Plan Advisors DC Advisors Best Multi-Office Firms 2021 ranking
About National Bank Huntington
Huntington Bancshares Incorporated (Nasdaq: HBAN) is a $179 billion regional asset holding bank headquartered in Columbus, Ohio. Founded in 1866, National Bank Huntington and its subsidiaries provide consumers, small and medium-sized businesses, corporations, municipalities and other organizations with a full range of banking, payment, wealth management and banking products and services. risk management. Huntington operates more than 1,000 branches in 11 states, with some companies operating in wide geographic areas. Visit Huntington.com for more information.
Since 1983, PAi has been helping people save successfully for retirement by changing retirement outcomes through member-focused, easy-to-manage 401(k) retirement services. CoPilot’s record-keeping services feature retirement years calculations, allowing savers to see exactly how many years their savings can buy, and an event-based alert system that keeps participants on track. sending updates along the way. Find out how CoPilot is changing the retirement conversation at pai.com.
SOURCEHuntington Bancshares Inc.