Want An Opportunity to Get Out of the Retirement Plan Business Entirely?

The passage of the SECURE Act in December 2019 established Pooled Employer Plans (PEPs) effective January 1, 2021.

A PEP allows an employer to get out of the business of:

  • Filing the annual plan audit for those employers with more than 100 eligible employees.
  • Investment Committee Meetings and quarterly monitoring.
  • Distributing and documenting the distribution of Summary Annual Reports, annual fee disclosure documents, Summary Plan Documents, etc. to all your employees.
  • Filing the annual 5500
  • Certifying loans, termination distributions, hardship distributions, QDRO distributions, etc.
  • Spousal consent approvals
  • Loan default monitoring
  • Annual discrimination and coverage testing
  • Corrective distributions
  • DOL and IRS issue resolution
  • Census review
  • Eligibility calculations and notifications.

Plans of unrelated employers are able to pool resources. A team of qualified fiduciaries monitors investments on your behalf and accepts responsibility for the duties above.   Employers are able to shed roughly 90% of their administrative tasks associated with operating your plan, allowing your valued human resources and payroll team to focus on the management of the human capital of your business.

See if a PEP might be an upgrade for your company’s retirement plan. Contact us today.