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FASCore® is a leading provider of recordkeeping and administrative services for the defined contribution & deferred compensation market. We specialize in providing private label record keeping services to financial institutions that demand state-of-the-art systems, flexibility and expertise for their defined contribution plans. The open architecture of our real-time proprietary system gives us the flexibility to offer the same extensive array of cost competitive services to very small plans as well as plans with 100,000 or more participants.

FASCore, a wholly owned subsidiary of Great-West Life & Annuity Insurance Company, is the recordkeeping arm of Great-West. With a century-long track record, Great-West ranks as one of the oldest and largest financial institutions in North America. For more than 40 years, FASCore has provided retirement plan recordkeeping services across multiple industry segments; 401(k), 403(b), 457 and non-qualified plans of all sizes—from micro to jumbo. FASCore has grown in recent years by partnering with banks, insurance companies, brokerage firms, mutual fund companies, and other financial institutions to offer private-label recordkeeping services to their plan clients.

  • Eight institutional partners representing some of the most well-known financial services brands
  • Fourth largest recordkeeper in the country based on participant accounts as of September 30, 2012, Pensions & Investments, March 2013
  • Serving more than 27,000 retirement plans nationally as of March 31, 2013
  • 4.8 million participant accounts and $192 billion in assets as of March 31, 2013
  • Broad market expertise - 401(a), 403(b), 457 Qualified and Non-Qualified Plans, money purchase and profit sharing

Depth of Experience
As one of the nations largest recordkeepers we have established one of the most diverse and expansive blocks of defined contribution (DC) recordkeeping business in the industry. We believe a retirement services recordkeeper measures its expertise not only by asset size of plan, but by degree of difficulty and complexity in the plans that they provide service. In addition to looking at assets by plan, we believe the real metal of a recordkeeper is measured by the depth of expertise in plan size and plan type.


Plan Type Experience (as of March 31, 2013)

Code
Number of Plans
Total Participant Accounts
Assets
(in millions)
401k
20,983
2,274,947
102,150.1
403b
3,346
539,940
16,944.2
457
1,087
1,278,591
56,494.3
401(a)
952
483,528
12,815.7
Other
1,534
184,411
3,863.96
Total
27,902
4,761,417
192,268.2

Quality Assurance
FASCore recognizes that our clients are our most important asset and that we must continuously strive to provide the high quality, efficient service that our clients demand and deserve. Our clients drive our management principles: cost effective administration of their retirement plans and high quality service and administration. We have incorporated an extensive quality control program to help us achieve these principles. The purpose of the program is to provide a long-term structure to ensure we consistently meet the service levels as defined by our clients. Key components of the program include time standards and accuracy measurements.

All transactions are logged immediately upon receipt. An online production system maintains and measures time standards for each step of the process for each transaction. Supervisors have online access to the production system for monitoring all transactions to ensure they are completed within the appropriate time standards. In addition, supervisors can produce daily summary reports reflecting all pending and completed work.

Secondly, transactions are monitored for compliance with FASCore's compliance policies and procedures which conform to applicable rules and regulations; random transactions are quality checked by a senior staff member through periodic audits including for example internal audits. FASCore also periodically has external audits and an annual Level 2 SSAE16 performed by independent auditors.

› Depth of Experience
› Quality Assurance

 

 

 

 

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