Firm Launches TPA Focused on Public Plans

It plans to offer a centrally managed platform for education and participant support.

Grow Capital, a publicly traded financial services, software and technology company that incubates financial technology companies, has announced that its subsidiary, PERA LLC, has launched PERA Administrators.

PERA Administrators is a third-party administrator (TPA) focused on serving public plans—i.e., 403(b)s and 457(b)s—with a centrally managed education and participant support platform.

“We believe that there is a significant opportunity to improve financial wellness and employee engagement in 403(b) and 457(b) plans throughout the public sector,” said Brock McKinley, president of PERA Administrators. “With PERA Administrators, plan sponsors will have the ability to provide their
employees with a better path to financial wellness while also having access to a platform that will maintain better controls over how their employees are educated on retirement benefits. Our mission is to serve the retirement needs of America’s public employees and use technology and industry professionals to accomplish our mission.”