POOLED EMPLOYER PLANS (PEPs)

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.