A Message from the Chief Executive: WVBankers Group Retirement Plan – A Value Proposition for Members
Individual employer-sponsored retirement plans can be complicated, risky, and costly to manage, particularly for small businesses. Because of this, WVBankers identified a need to provide member banks, predominantly small- to mid-sized banks, a “turn-key” group retirement solution that includes comprehensive administrative and investment support. With the assistance of Metro Benefits as our ERISA Section 3(16) third-party administrator and Graystone Consulting, a business of Morgan Stanley, as our ERISA Section 3(38) investment manager, the Association began marketing a multiple employer plan or MEP that would allow banks that desired to join under a single plan, the ability to offer high-value retirement benefits to their employees with less burden and worry.
