PEORIA, IL - October 9, 2008 - Roland|Criss announced today that Alliance Benefit Group of Illinois, Inc. achieved recordkeeper certification offered by the American Society of Pension Professionals and Actuaries ("ASPPA"). The ASPPA certification program is based on an independent assessment of a recordkeeper's ability to support plan sponsor and plan participant requirements. Sanctioned by the Centre for Fiduciary Excellence ("CEFEX") and fi360, and audited by Roland|Criss, this is the only certification that strives to attest to the highest level of recordkeeping excellence.
Commenting on the certification, John Blossom, President & CEO at Alliance Benefit Group of Illinois said, "Being the only recordkeeper in the Midwest to achieve the ASPPA certification is a testament to the talent and diverse expertise of our staff, which has always been one of our key assets. Our goal is to continue our heritage of innovative and comprehensive retirement plan solutions, while meeting the demand for both employers and employees."
Brian Graff, Executive Director of ASPPA, said, "Since recordkeepers play an integral role in helping fiduciary's fulfill their obligations, it is appropriate to provide a program where they can demonstrate their adherence to the standard. This certification fulfills that need."
In its continued effort to achieve a standard of excellence and promote self-regulation among retirement plan recordkeepers and third party administrators (collectively "Recordkeepers"), an ASPPA task force established 17 critical practices against which Recordkeeper certification assessments would be conducted. The purpose of ASPPA's program is to help plan sponsors identify recordkeeping firms that have passed a rigorous test of their fiduciary support capability.
"The ASPPA certification is different from other industry credentials because it's based on a third party audit process," said Ron E. Hagan, CEO of Roland|Criss and ASPPA task force member. "This process that Alliance Benefit Group of Illinois has successfully completed tests such issues as fee transparency, quality controls, financial strength, technology support, and organizational leadership to name a few. It is the first standard of its type and is essential for measuring conduct and promoting an industry of self-regulation."
Alliance Benefit Group of Illinois is registered at www.cefex.org where its certificate can also be viewed.
About Alliance Benefit Group of Illinois, Inc.
Alliance Benefit Group of Illinois, Inc. is a regional service office of one of the largest retirement plan administration organizations in the country. Alliance Benefit Group provides regional administration for more than 275,000 plan participants with over $9 billion of retirement plan assets.
Alliance Benefit Group of Illinois serves clients in 36 states from our administration center and headquarters located in Peoria, Illinois. Our consulting staff serves clients in our primary market of Illinois and Eastern Wisconsin from offices in Peoria, Chicago, and Milwaukee.
For more information on Alliance Benefit Group of Illinois, Inc., please visit www.abgil.com.
About ASPPA
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.
For more information on ASPPA, please visit www.asppa.org.
About Roland|Criss
Founded in 1986, Roland|Criss is the leading independent, standards-based provider of certification assessments. 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 CEFEX and ASPPA seals of excellence.
For more information on Roland|Criss, please visit www.rolandcriss.com.
About CEFEX
The Centre for Fiduciary Excellence, LLC is an independent certification organization. CEFEX works with investment fiduciaries and industry experts to provide comprehensive certification programs to improve risk management for institutional and retail investors. CEFEX certifications help determine trustworthiness of investment fiduciaries.
For more information on CEFEX, please visit www.cefex.org.
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