Thursday, June 13, 2019

HANYS Benefit Services expands into the small to mid-sized market

After 40 years of providing retirement plan advisory services to large institutions, HANYS Benefit Services is taking its experience and expertise to the smaller end of the market.

Though employers with assets under $10 million may not have the same resources as larger organizations, they do have the same responsibilities and objectives: a fiduciary duty to conduct plan business in a prudent fashion and the need to offer an attractive and competitive retirement plan for their employees.

“We believe sponsors in the smaller end of the market are often underserved and may not be getting the proper fiduciary oversight,” said James Kelley, president of HANYS Benefit Services. “With our new service offering, we are looking to relieve some of their administrative burden, fiduciary responsibilities and operating expenses.” HBS has created a solution that largely shifts the fiduciary and administrative burdens to third parties while crafting a lower cost, institutionally structured retirement program.

About HANYS Benefit Services

HBS has been providing retirement services to leading healthcare, not-for-profit and corporate organizations for more than four decades. HBS provides trusted advisory and consulting services, including plan design, vendor management, investment selection and monitoring, operational oversight, and on-site education and communication. HBS also provides services in support of employer mergers and acquisitions, defined benefit plan de-risking strategies and other complex matters including Department of Labor and IRS audits. Named a PlanAdviser Top 100 Retirement Plan Adviser for 2016, 2017 and 2019, HBS conducts business in accordance with strong values in a manner that is in the best interests of its clients, with an ultimate goal of assuring clients’ employees are ready for retirement.

HBS is headquartered near Albany, with offices in Rochester and Melville, New York.

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