June 15 - Pentegra Retirement Services is pleased to announce its Bank Owned Life Insurance and non-qualified plan products have earned the endorsement of the North Carolina Bankers Association’s subsidiary Community Bank Services.
Pentegra’s BOLI and non-qualified plan products were chosen after a thorough review by Community Bank Services, taking into consideration factors that include references, financial information, and cost savings of products and services to the North Carolina Bankers Association’s membership. Pentegra’s qualified retirement plans are also endorsed.
In receiving the news, Pentegra President Robert C. Albanese said, “We are honored to be recognized by the North Carolina Bankers Association and receive their important endorsement. We are thankful for their close review and attention and look forward to our continued relationship with them.”
Pentegra Retirement Services offers a benefits financing solution that can help community banks implement a more cost-effective strategy to offset some or all of their employee benefits expenses. BOLI is often used by financial institutions to informally fund corporate obligations in connection with certain types of retirement benefit plans by purchasing life insurance policies for groups of eligible employees.
With a 68-year history of working with community banks, Pentegra offers NCBA’s members an added advantage of top industry expertise and proven bank-focused solutions for retirement programs.
For more information about Pentegra’s BOLI and non-qualified plan products, contact Kevin Killian at kkillian(at)pentegra.com or 800-872-3473, x422, or Andy Strock at astrock(at)pentegra.com or 267-975-2696.
Pentegra Retirement Services is a provider of retirement products and services to financial institutions and organizations nationwide. Founded by the Federal Home Loan Bank System in 1943, Pentegra offers a full range of retirement programs, including 401(k) plans, defined benefit pension plans, ESOPs, KSOPs, profit sharing plans, 403(b) plans, 457 plans, executive benefit and director compensation plans, BOLI and full-service private label retirement programs. For more information, go to www.pentegra.com.