American Trust has teamed up with TAG Resources to introduce a Pooled Employer Plan.
According to a press release, the American Trust PEP offers several distinct benefits, including:
- Increased purchasing power as several smaller employers can pool resources and assets into a single plan
- Simplified plan administration that offloads 90% of a plan’s administrative duties
- Potentially reduced plan expenses, including lower administrative fees, filing fees and audit costs
- Customizable to the employer’s needs and participant goals, including both active and passive investment lineups and plan design features that can be catered to the participant makeup
To achieve a decreased fiduciary risk to the employer, American Trust Company acts as the plan Trustee and assumes the role of 3(38) Investment Manager, and AT Retirement Services, LLC, an American Trust affiliate, acts as the Pooled Plan Provider. TAG performs certain 3(16) responsibilities as the TPA.
American Trust is a subsidiary of EdgeCo Holdings, which along with its other subsidiaries, administers more than 100,0000 retirement plans, while 100% of TAG’s business is in the pooled plan structure.
