PlanMember Announces Contract Extension with IBEW Local Unions

Published: Dec. 6, 2022 at 11:00 AM EST

CARPINTERIA, Calif., Dec. 6, 2022 /PRNewswire/ -- Scarborough Alliance, a part of PlanMember Retirement Services, is pleased to announce that it was recently awarded a 5-year contract extension serving the IBEW Local Unions Savings & Security Plan. For more than 45 years, Scarborough has served the retirement needs of IBEW members across the country and has served as the plan administrator for the IBEW Local Unions Savings & Security Plan since its inception in 1979.

(PRNewsfoto/PlanMember Securities)
(PRNewsfoto/PlanMember Securities)(PRNewswire)

Scarborough's primary roles in this relationship are to provide 3(16) administrative fiduciary services, as well as personalized investment advice and managed account services to the Plan's 3,000 participants. In addition, the Plan's recordkeeping and custodial services have recently transitioned to Newport Group, a recognized industry leader in plan design and recordkeeping. Through the PlanMember-Newport partnership, the Plan will benefit from integrated platforms and a state-of-the-art participant web experience.

"We have served as a trusted fiduciary to the Savings & Security Plan for 43 years," says Denis Cardone, President and Founder of Scarborough Alliance, "and we certainly appreciate the IBEW Local Unions' continued confidence."

About PlanMember: In December 2010, Scarborough became a division of PlanMember Financial Corporation. For more than three decades, PlanMember has partnered with employers nationwide to deliver innovative, high-quality retirement plan solutions. Headquartered in Carpinteria, CA, PlanMember is a registered broker/dealer and investment advisor in all fifty states.

Securities and advisory services are offered through PlanMember Securities Corporation (PSEC), a registered broker/dealer, investment advisor and member FINRA/SIPC. PlanMember Securities Corporation is an independently owned and operated company.

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