Ameritas has announced the launch of the Pooled Employer Plan (PEP), now available on the firm’s flexible retirement plan platform.
According to the announcement, Ameritas will serve as the recordkeeper, with TRG Fiduciary Services serving as the pooled plan provider. LeafHouse Financial will function as the 3(38) investment fiduciary, using their proprietary technology to select, evaluate and monitor investments. Charles Schwab Trust Bank will serve as directed trustee.
The Setting Every Community Up for Retirement Enhancement (SECURE) Act enacted in 2019 allowed for the creation of PEPs, beginning in 2021. As such, the legislation allows unrelated companies or organizations (adopting employers) to band together and join a pooled employer plan. Prior to the Act, businesses were only able to join under a multiple employer plan requiring certain commonality.
“Every U.S. worker deserves the chance to save for a dignified retirement,” stated Jim Kais, Executive Vice President of Retirement Plans for Ameritas. “Our PEP gives small and mid-size businesses and organizations the opportunity to establish a retirement plan with more ease and alleviates those common roadblocks that cause resistance toward sponsoring a plan. Plan sponsors will now have a viable solution that reduces costs, lessens administrative burdens, and most of all, minimizes financial and legal risk.”
“What’s great about the new pooled employer plan from Ameritas is that both specialist advisors and generalist financial professionals can grow their practice while streamlining administration,” adds Scott Holechek, Ameritas institutional sales leader and pooled employer plan thought leader. “And with our flexible platform and managed account options, financial professionals can satisfy varying investment appetites and offer personalized plans.”
For additional information about the firm’s new PEP, click here.
