Great Gray Trust Company

Celebrating our one-year anniversary as Great Gray Trust Company. It’s been a great year.   The year has gone by quickly, but a lot has been accomplished: - Total Collective Investment Trust (CIT) assets have increased by 35%, or $46.8B - We’ve added 89 funds and 59 share classes   Here’s where we currently stand: Great Gray is a leader in the collective investment trust (CIT) market with over $179 billion in fund assets. These assets are spread across funds that are overseen by 80 sub-advisors. Additionally, Great Gray maintains trading agreements with 38 trading platforms that provide access to 200+ recordkeepers (as of March 31, 2024). Thanks, and congratulations to the entire team!   #DCIOs #PlanAdvisors #GreatGrayCareers #RetirementPlanning #RetirementInnovation

Is your trustee willing to innovate alongside you as you grow? As you consider your Collective Investment Trust (CIT) options, you should assess the CIT trustee’s output of thought leadership, their place in the retirement ecosystem, and willingness to innovate.  To illustrate how Great Gray innovates and implements customer feedback, BoardingPass™ is Great Gray’s approach to modernizing the onboarding experience.  Through creating first-of-their-kind solutions such as BoardingPass, Great Gray continually expands and transforms retirement solutions through technology that streamlines, innovation that unlocks potential, and a mindset that reaches far beyond the status quo.  Understanding the importance of innovation helps you stay ahead of the curve and figure out how to adapt your strategies as advisors or asset managers in keeping up with the rapidly evolving trends. Read the full Insights post here https://lnkd.in/gmr57qbs to see the bigger picture of all four aspects of a trustee to consider when choosing a CIT.  #CITs #Retirementplanning #PlanAdvisor #Innovation

Yesterday, our President & CEO, Rob Barnett, was interviewed on the American Retirement Association's Executive Interview podcast. In this insightful episode, Rob delves into Great Gray’s history and dynamic growth trajectory, upcoming future product innovations, and the latest legislative updates that could potentially allow Collective Investment Trusts (CITs) to be offered in 403(b) plans. Tune in for a short, but informative discussion all in under 15 minutes: Listen here https://lnkd.in/g5zgzgDb or find the episode on your preferred podcast platform. At Great Gray Trust Company, we’re driven by our unique positioning at the center of the retirement ecosystem and our proactive approach to driving new solutions based on real feedback. Follow us here on LinkedIn for the latest insights in retirement innovation. #ARA #CITs #NAPA #PlanAdvisor #RetirementLegislation

Join us in welcoming Jordyn (Peck) Corcoran, Head of Business Transformation at Great Gray.  Jordyn comes to us from Ankura Consulting, Office of the CFO practice. Her deep expertise in guiding complex transformations, building strong cross functional relationships and improving processes through workflow redesign and technology enablement makes her the perfect fit for this role. With over 15 years of industry and consulting experience, Jordyn will be at the forefront of our large-scale transformation projects aimed at enhancing operational efficiency and scaling for growth. Her initial focus areas to help achieve Great Gray’s mission will include:  - Strategic Project Management: Establish a robust framework to bridge project execution and organizational strategy, ensuring projects are aligned with strategic goals and deliver tangible business value.   - Transformative Approach: Spearhead projects centered around streamlined processes, technology, and employee experience to create a scalable, integrated and efficient platform for growth.   - Vendor Management Program: Build a comprehensive enterprise-wide program to optimize past, present and future vendor relationships through the lens of procurement, risk management and contract management lifecycle.  Overall, Jordyn is committed to establishing business practices that continue to transform our organization, leading strategic initiatives for sustained growth.  We’re excited about the innovations and improvements she will bring across our organization.  Great Gray Trust Company continues to search for talented individuals to join our team. View our open roles via our LinkedIn page.  #GreatGrayCareers #BusinessTransformation #CompanyCulture #EnhancedEfficency #Hiring 

This month, a bipartisan group of U.S. senators introduced a bill that would allow 403(b) plans to include collective investment trusts.    Named the "Retirement Fairness for Charities and Educational Institutions Act," the legislation mirrors popular parts of a broader House bill that passed in March.    Our CAO & General Counsel, Peter Stahl, shared four key takeaways about the bill that we've compiled below.   As this important bill moves to the next phase of consideration in the Senate, it is imperative that all stakeholders actively support it. Continued engagement by all stakeholders – retirement plan fiduciaries, participants and service providers – is required to share the compelling policy rationale for this bill and galvanize support for its passage in the remaining legislative days for this Congress.   Let's remain proactive and work together to support the passage of this critical legislation.    #RetirementPlans #403b #CITs #RetirementLegislation

#ICYMI: Have you read our latest Insights piece, “The Role of a Trustee in a Successful Collective Investment Trust (CIT) Strategy,” yet? With the rapid growth in CITs, it is important that an advisor selects a CIT with a dependable trustee. Last week, we identified the four main trustee attributes to consider when choosing the right CIT.  In this post, we will dive deeper into the role of good governance and how adherence to regulatory requirements help implement and maintain well-designed policies and procedures for CITs. The trustee's role is to implement strong, consistent fiduciary practices to fulfill these regulatory requirements across various regulatory bodies and have a sound operational framework.  Stay posted for further insights as we explore the remaining considerations for selecting a CIT with a dependable trustee this week. Read the full Insights post here: https://lnkd.in/gmr57qbs #CITs #Retirementplanning #Planadvisor #Governance 

Bipartisan Support Continues: a Big Step in the Senate to Give 403(b) Plans Equal Access to CITs We are pleased to report that a leading, bipartisan group of U.S. Senators has introduced a bill that would permit 403(b) plans to include CITs among the investment options offered to plan participants. This follows the House of Representatives' passage of a bill permitting CITs in 403(b) plans, and it marks another significant step toward enhancing investment opportunities for 403(b) plan participants. Key Points: - Bipartisan Momentum: Senator Britt (R) introduced the bill (S.4917), whose co-sponsors include Senators Warnock (D), Cassidy (R), and Peters (D). The bipartisan commitment to addressing this important issue is particularly noteworthy in this election year, and it reflects a shared dedication to improving the nation’s retirement savings framework. - Promoting Investment Parity: The bill would align investment options available in 403(b) plans with those available in 401(k), 457(b), and federal Thrift Savings Plans. This alignment is crucial for fostering a more equitable retirement savings landscape. - Operational Efficiency: Their structure allows for more efficient and cost-effective operation compared to mutual funds that are offered directly to retail investors. - Regulation: CITs, which are offered exclusively to qualified retirement plans and selected by fiduciaries, are subject to the Employee Retirement Income Security Act of 1974 (ERISA). ERISA is administered by the Employee Benefits Security Administration of the Department of Labor. Further, CIT trustees, whether they’re banks or trust companies, are supervised by a national or state prudential banking regulator. Finally, CITs must comply with IRS regulations that provide the special tax treatment that CITs and their investors enjoy. As this important bill moves to the next phase of consideration in the Senate, it is imperative that all stakeholders actively support it. Continued engagement by all stakeholders – retirement plan fiduciaries, participants and service providers – is required to share the compelling policy rationale for this bill and galvanize support for its passage in the remaining legislative days for this Congress.  At Great Gray Trust Company, we remain steadfast in our commitment to this cause. We will continue to contribute our expertise and resources to advocate for Senate approval. Our goal is clear: to ensure that all 403(b) plan participants have access to a full suite of investment options, thereby giving more retirement savers a better chance at better outcomes and creating a more equitable retirement savings system. We urge our allies in the retirement ecosystem to join us in supporting this measure. Let's remain proactive and work together to support the passage of this critical legislation.

Within the retirement ecosystem, the trustee plays a critical role. But how do plan advisors who want to invest in CITs evaluate the practices of an institution? To answer this question, Great Gray has compiled four main aspects to consider when choosing the right trustee. 1. Fiduciary Responsibility   2. Good Governance  3. Thought Leadership  4. Willingness to Innovate First, you should consider their fiduciary heritage and the types of capacity in which a fiduciary may serve. A trustee is the ultimate “fiduciary” responsible for the investment management and compliance oversight of each CIT Fund.  Given the scope of these responsibilities, choosing a reliable and efficient trustee is crucial for the implementation of successful CIT strategies. Stay tuned for more insights as we unravel the next three aspects of choosing a reliable trustee. Read the full Insights post here: https://lnkd.in/gmr57qbs #CITs #DCIO #Retirementplanning #Planadvisor 

Last week, Val Ferrara and Christopher Barthe attended OneDigital's #EVOLVE24 Conference. We weren’t expecting the show’s themes to resonate so firmly with our values, but they did. Here were the top three things our team took away from their experience on-site: 1. Be Aligned: We recognize the importance of aligning with our strategic allies for effective communication. Listening, learning, and integrating your insights into our solutions are paramount to our approach. 2. Deliver Solutions: Respect is earned through attentive listening. We've carefully considered your aspirations and challenges and can adapt alongside your evolving needs. Continuous feedback will guide our ongoing improvements.  3. Build Relationships: Being a strategic ally is more than a commitment; it requires collaborative actions to nurture enduring relationships and deliver impactful solutions. Let's maintain momentum in fostering a culture of collaboration and innovation together. We appreciate the inspiration to evolve and grow alongside you. #OneDigital #CITs #PlanAdvisors #RetirementInnovation

With over 90 years of history, it’s no surprise that there are some outdated stereotypes about Collective Investment Trusts (CITs). One of those lingering stereotypes involves transparency. Today, Victor Siclari, our Chief Compliance Officer, dismantles transparency misconceptions in a new National Association of Plan Advisors feature article. Why does this matter? CITs have surged in popularity, thanks to enhanced transparency efforts led by innovators, like Great Gray, and they are set to outpace mutual funds as the top target-date investment choice in Defined Contribution plans this year, according to Morningstar. CITs represent a progressive approach to retirement planning, offering lower fees, flexibility, and rigorous regulatory oversight by banking/trust regulators and under ERISA and IRS guidelines. Discover Victor’s full insights in his article "Clearing Up Misperceptions About CIT Transparency" https://lnkd.in/gfEA3v9d , and learn how CITs are transforming retirement planning. #CITs #DefinedContribution #PlanAdvisors #RetirementPlanning #RetirementInnovation