Today on The Gap, we’re thrilled to welcome Amanda Iverson, a true leader in the retirement plan space. Amanda is the CEO and a partner at Pinnacle Plan Design, a firm known nationally for its defined benefit and cash balance expertise. She was also the 2024 President of The American Society of Pension Professionals and Actuaries (ASPPA), the nation’s largest organization representing Third Party Administration (TPA) professionals in the retirement plan services industry. Amanda is known for her thought leadership. She speaks at national conferences and has been widely published on topics ranging from firm management to HR best practices. She was a Tucson “40 Under 40” honoree. She is a champion for educating business owners as well as other TPA firms and financial advisors.

Please join me in welcoming a dynamic leader who is shaping the future of the retirement plan industry— and one of my best friends, also known as the other half of the dynamic duo, Shamanda.

In this episode, Shannon and Amanda Iverson discuss: 

• The evolving role of TPAs in retirement plan administration
• Education and advocacy in the retirement planning space
• The strategic use and understanding of cash balance and defined benefit plans
• Addressing the savings and coverage gaps in the American retirement system

Key Takeaways:

• Pinnacle Plan Design collaborates with over 45 Third Party Administrator (TPA) firms across the country by providing specialized actuarial services behind the scenes, allowing these smaller firms to offer complex retirement solutions like defined benefit and cash balance plans without having to employ in-house actuaries.
• Despite the common misconception that cash balance plans only benefit high-income business owners, these plans often provide increased contributions for rank-and-file employees and can significantly boost total retirement savings across an organization.
• Because cash balance plans offer guaranteed employer-funded benefits with a stable rate of return, they are especially valuable for employees who are unable to contribute on their own due to financial constraints like student loans or childcare costs.
• Pinnacle places a strong emphasis on education by hosting regular webinars, offering training sessions with both actuaries and non-actuaries, and breaking down complex technical language so TPAs, financial advisors, and employers can confidently understand and present defined benefit plans.

"I love the advocacy work and being able to help get our voice out there to address the gap that still exists and is improving every day." — Amanda Iverson

Connect with Amanda Iverson: 

Website: https://pinnacle-plan.com/

Email: [email protected]

LinkedIn: https://www.linkedin.com/in/amandaiversonpinnacleplan/

Connect with Shannon: 

Website: https://www.tristarpension.com/

Email: [email protected]

LinkedIn: https://www.linkedin.com/in/shannonedwardsplanconsultant/