Generally Healthcare Community Securities Corp., which markets its services under the name TruePlan Benefit and Retirement Advisors (“HCSC,” “we,” “us” or the “Firm”), is a registered investment adviser (“RIA”) with the Securities Exchange Commission (the “SEC”) under the Investment Advisers Act of 1940 (the “Advisers Act”). The Firm is also a registered broker-dealer with the Financial Institution Regulatory Authority (“FINRA”). Registration with the SEC, FINRA or any state securities authority does not imply a certain level of skill or training.
HCSC was incorporated on July 1, 1993. HCSC registered with the SEC as an RIA on Jan. 1, 2007.
HCSC is a wholly-owned subsidiary of Group Insurance Agency, Inc. (“GIA”). GIA is a wholly-owned subsidi- ary of HANYS Services, Inc. (“HSI”). HSI is a wholly-owned subsidiary of the Healthcare Association of New York State, Inc. (“HANYS”). HANYS is a 501(c)(6) trade association that represents more than 500 non- profit and public hospitals, nursing homes, home care agencies and other healthcare organizations through- out New York State.
HCSC provides investment advisory and consulting services to a wide range of entities that sponsor defined benefit plans, defined contribution plans for their employees (each, a “Retirement Plan”) and/or corporate assets.
HCSC publishes quarterly market recaps that are distributed to advisory clients and prospects and are also posted for public view on its website. In addition, HCSC may publish whitepapers on a wide range of subjects including fiduciary roles and responsibilities, market volatility and basic education on target date funds.
HCSC provides advisory services on a non-discretionary basis and discretionary basis.
As of Dec. 31, 2023, HCSC had $3,924,975,375 of non-discretionary assets under management and $0 of discretionary assets under management.
Non-discretionary Advisory Services HCSC offers non-discretionary investment advisory services as a co-fiduciary under Section 3(21) of the Employee Retirement Income Security Act of 1974 (“ERISA”). HCSC also offers non-discretionary invest- ment advisory services in some instances in which it does not serve as a co-fiduciary. In either case, for cli- ents for which it serves as a Section 3(21) co-fiduciary, HCSC assists in the development of a comprehensive investment policy statement, recommends third-party mutual funds and other investment products, provides investment performance evaluations, and assists in the evaluation and selection of trustees and custodians.
In working with its clients to develop an investment policy statement, HCSC provides information that takes into account regulatory requirements, investment suitability and the design of the client’s Retirement Plan. Each investment policy statement (or other client mandate) includes a range of suitable asset classes and investment options for the client’s Retirement Plan. The investment policy statement (or other client man- date) also identifies the search, selection and retention criteria for the Retirement Plan’s mutual fund and other investment products and third-party investment managers. Clients are not required to create an invest- ment policy statement, but for clients that do establish one, HCSC and the client conduct a formal periodic review, typically biennially, to ensure the document reflects current best practices for investment governance for the applicable Retirement Plan.
One Empire Drive, Rensselaer, NY 12144 | 800.388.1963 | 518.431.7600 | trueplanadvisors.com Page 5 of 12 HCSC recommends to its clients mutual funds and other investment products managed by third-party invest- ment managers for each asset class identified in the investment policy statement (or other client mandate). HCSC’s recommendations are based on qualitative and quantitative selection criteria. In recommending mutual funds to its clients, HCSC selects only retirement-specific share classes, or load waived or no load share classes. HCSC does not make investment recommendations regarding individual stocks and bonds.
HCSC

monitors the performance of the mutual funds and other investment products on an ongoing basis rel- ative to the selection criteria. If an investment or adviser fails to meet the criteria set forth in the investment policy statement (or other client mandate), HCSC provides the client with a written notice explaining HCSC’s recommended modifications to the Retirement Plan’s menu of investment options.
HCSC provides its clients a quarterly investment performance and evaluation report. The report includes information on current asset value, absolute and relative mutual fund performance, asset class analysis and expense analysis. Reports are designed for use by the client’s board of directors and/or committee(s).
HCSC does not provide investment advisory services to Retirement Plan participants or other natural persons, but HCSC may communicate with Retirement Plan participants regarding changes to the Retirement Plan approved by the client. It is each Retirement Plan participant’s responsibility to allocate their assets among the investment options.
Upon request by a client, HCSC provides educational information to Retirement Plan participants through HCSC’s retirement educators. All information provided by HCSC’s retirement educators is informational and educational in nature. HCSC’s retirement educators are prohibited from making any recommendations, offer- ing investment advice or providing tax guidance to Retirement Plan participants. Although HCSC provides an array of mutual funds and other investment products, Retirement Plan participants should seek appropriate independent financial advice, as they deem necessary.
HCSC, together with each client for which it serves as a co-fiduciary under Section 3(21) ERISA, acknowl- edges its status as a co-fiduciary at the beginning of the advisory relationship. As a co-fiduciary, HCSC accepts the obligation to act prudently, to act in the best interest of the client’s Retirement Plan partici- pants and beneficiaries and to refrain from engaging in any prohibited transactions. HCSC’s obligations with respect to the Retirement Plan as a co-fiduciary under ERISA are strictly limited to the specific services identified in the client’s advisory agreement (each, a “Retirement Plan Services Agreement”) and, under the agreement, HCSC is not liable for losses arising from the client’s failure to implement HCSC’s investment recommendations.
Discretionary Advisory Services HCSC will also accept discretionary authority. In such cases, HCSC has the discretion and responsibility to implement its investment recommendations, in keeping with its fiduciary obligations, but without client approval. Discretionary authority may be accepted as an investment manager relationship to the client’s Retirement Plan under Section 3(38) of ERISA, but it may also be accepted in non-ERISA advisory relation- ships. Other than the difference in discretionary versus non-discretionary authority, the services provided under either model are generally similar.
Please refer to Item 16 of this brochure, “Investment Discretion,” for more information regarding HCSC’s acceptance of investment discretion. As of the date of this brochure, HCSC did not have any discretionary assets under management.
One Empire Drive, Rensselaer, NY 12144 | 800.388.1963 | 518.431.7600 | trueplanadvisors.com Page 6 of 12 Pension Consulting Services HCSC provides advice to clients on pension plan design, administration and compliance-related issues not involving investing in securities. Such work might include, but is not limited to, conducting a search for a new recordkeeper, consulting on plan design or reviewing plan operations. Use of Third-Party Investment Managers HCSC has engaged a third-party vendor, Prime Buchholz to provide quarterly investment evaluation reports and evaluations of investment management firms as requested for a particular client. Prime Buchholz is reg- istered with the SEC as an investment adviser. HCSC may decide to engage Prime Buchholz to provide this service for other clients.