STAR helps ensure participants are paying an equitable portion of the plan expenses, regardless of their investment allocation choices.
With STAR, a plan’s revenue account is allocated back to participants in proportion to the amount generated by their individual balances and fund selection. When plan administration expenses are deducted from participant accounts, STAR ensures the expenses are allocated proportionately among all participants.
“Sponsors will love this service because it assesses fees across their plan based on the funds in which participants are invested,” said Pete Welsh, vice president of product and business strategy for retirement business at the OneAmerica companies.
Based in Indianapolis, Indiana, McCready and Keene provides actuarial services to defined benefit plans and provides recordkeeping services to employee stock ownership plans and other defined contribution plans, including a trust program that uses an open architecture investment platform available to 401(k), 403(b), 457, money purchase pension and profit-sharing plans. More information about McCready and Keene is available at www.mcak.com.