Partnering with Empower and The Finway Group to deliver a unique retirement solution
IOWA — First Community Trust (FCT), a leading Midwest-based wealth management and trust company, today announced the launch of Affiliates Choice Retirement Plan, a Pooled Employer Plan (PEP) designed to help employers lower costs, streamline administration, and reduce fiduciary responsibilities associated with offering a traditional employer-sponsored retirement plan.
Affiliates Choice Retirement Plan brings together the expertise of industry leading partners to deliver a single professionally managed retirement plan. In this innovative structure, FCT will serve as the 3(38) investment fiduciary and plan advisor, Empower will provide recordkeeping services and advanced technology capabilities, and The Finway Group will act as the designated Pooled Plan Provider, collectively simplifying retirement plan management for participating employers.
Employers of all sizes face rising costs, increasing complexity and greater fiduciary risk when managing a traditional 401(k) plan. A PEP addresses these challenges by allowing multiple unrelated employers to participate in a single retirement plan with centralized administration, professional fiduciary oversight, and access to institutional-level investment pricing typically available only to larger plans.
“Retirement plan administration has become increasingly complex for employers,” said FCT Senior Vice President, Ryan Bryte. “Our Pooled Employer Plan solution brings together nationally recognized retirement plan providers in a coordinated structure designed to simplify administration, reduce fiduciary burden, and help employers focus more time on what matters most to their organization.”
The Affiliates Choice Retirement Plan is now available to employers seeking a more efficient and simplified approach to retirement plan administration.
For more information, please visit https://fctrust.com/.
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First Community Trust, N.A. (FCT) is a nationally chartered trust bank offering investment, retirement, financial planning, and trust services for individual and institutional clients nationwide. FCT’s professionals have more than 450 years of consistent and collective investment, financial and trust experience. Founded in 2001, FCT manages over $1.4 billion in assets, helping individual clients achieve their personal financial, retirement and estate planning goals and helping institutional clients with their retirement plans and other investment management objectives that impact members, employees, and communities.
Empower is recognized as a leader in retirement services and wealth management, Empower administers over $2.0 trillion in assets for more than 19.5 million individuals through the provision of workplace and individual retirement plans, advice, financial planning, and investments. Learn more at empower.com.
Finway Group is a national 401(k) retirement plan administrator and Pooled Plan Provider (PPP), delivering third-party administration (TPA), ERISA 3(16) fiduciary services for turnkey PEP solutions. Finway handles the day-to-day administration, annual compliance, and key fiduciary responsibilities, so employers can focus on what matters most. Backed by experienced teams and strong partnerships with recordkeepers, Finway provides scalable, transparent, and hands-on support for retirement plans of all sizes.