Riptide Software, Inc. is 401K Certified for Fiduciary Excellence

Business Wire

ORLANDO, Fla.--(BUSINESS WIRE)-- The Centre for Fiduciary Excellence (CEFEX), an Fi360^® company, announced today that it has certified the investment fiduciary practices of Riptide Software, Inc. of Oviedo, FL as adhering to a global standard of excellence for Investment Stewards. Riptide Software, Inc. (Riptide) is among the first organizations globally to successfully complete the independent CEFEX certification process.

The CEFEX standard of excellence for Investment Stewards is based on 21 fiduciary practices that seek to help participants in a 401K. Companies that are certified as an Investment Steward have shown they are engaged and focused on increasing the value and satisfaction of the participants of their plan.

CEFEX Managing Director Carlos Panksep said: “Through CEFEX’s independent assessment, the certification provides assurance to participants and stakeholders that Riptide has demonstrated adherence to the industry’s best fiduciary practices.”

Phil Loeffel, CEO and Founder of Riptide Software said, “we’re excited to show our dedication to our fiduciary responsibilities for our plan and our participants. Obtaining this certification is a key milestone for Riptide that proves we are aligned with participants in supporting their long-term growth and success at Riptide.”

The fiduciary practices are based on the Fi360 Inc. publication: Prudent Practices for Investment Stewards and are substantiated by legislation, case law and regulatory opinion letters from the Employee Retirement Income Security Act (ERISA), Uniform Prudent Investor Act (UPIA), Uniform Prudent Management of Institutional Funds Act (UPMIFA) and the Uniform Management of Public Employee Retirement Systems Act (MPERS) in the U.S. A summary of the fiduciary practices can be viewed by clicking on the Riptide’s on-line CEFEX certificate, available at www.cefex.org.

The annual certification process involves a detailed review of documents, investments and procedures followed by on-site interviews with key personnel. A full copy of the standard is available at www.fi360.com. More information on Riptide Software, Inc. is available at: www.riptidesoftware.com.

About CEFEX:

CEFEX, Centre for Fiduciary Excellence, LLC, an Fi360^® company, is an independent certification organization. CEFEX works closely with industry experts to provide comprehensive assessment programs to improve the fiduciary practices of investment stewards, advisors, recordkeepers, administrators and managers.

About RiptideSoftware.com

Riptide Software is an award-winning CMMI Level 4 technology company headquartered in Central Florida. Since 1995, Riptide has delivered state-of-the-art military training systems that support our War-fighters through software and integrated hardware design, development, manufacturing, and sustainment of advanced technology systems using live, virtual, and constructive simulations. Riptide’s four divisions also include a wide array of products and services for the Department of Defense and various commercial industries. These services include: defense modeling and simulation, training systems, managed IT services, on-demand technologies, and machine learning/AI. Visit https://www.riptidesoftware.com/ for more information.