Most every company wants to offer a high-quality retirement plan solution to their employees; however, some simply lack the expertise, time, or resources to manage a plan effectively. Even companies with a dedicated benefits department may want to redirect those resources to other areas and offload the liabilities associated with managing a 401(k) plan.
Thanks to the Secure Act of 2019, Plan sponsors have a new option. It’s called a Pooled Employer Plan, or PEP. A PEP allows employers to pool their resources and gain access to economies of scale when managing their retirement plans. In contrast to a Multiple Employer Plan managed by a PEO, there is no need for a co-employer relationship to participate in a PEP program. And employers still maintain control over their own employees.
A PEP can be a great solution for companies of all sizes.
Benefits to Employer:
Benefits to Participants:
With the RPS SmartCourse Savings Plan, you can leave the worry of managing a 401(k) plan to us and focus more energy and resources on managing your business.