Advisory firm intellicents has selected The Standard to roll out its intelli(k) PEP—a pooled employer plan that offers a scalable solution for businesses with broad and flexible design capabilities.
As readers of NAPA will know, with a PEP, employers can outsource certain tasks to a pooled plan provider to help reduce their administrative burden and fiduciary obligations, allowing more time to focus on things that affect participant outcomes.
“We are thrilled to work with intellicents to offer the intelli(k) PEP, which perfectly complements the organization’s ‘over-serve the underserved’ mission,” said Steve Chappell, vice president of retirement plan sales distribution at The Standard. “The program is unique in that it’s packaged with intellisteps worksite financial planning for all participants, which aligns with improving the availability of quality, affordable retirement plans to American workers.”
The intelli(k) PEP handles both fiduciary and administrative responsibilities by removing the client from the role of plan sponsor. It bundles 3(38) investment governance and 3(16) administrative governance into a seamless packaged solution, allowing employers to upgrade offerings to employees while adding layers of fiduciary protection for the business.
“We are seeing a lot of interest across all market segments in learning more about the benefits of joining a PEP,” said Grant Arends, co-founder and president of retirement services at intellicents. “Whether you are an existing client or a prospect, have an existing plan or are starting a new plan, the intelli(k) PEP is a cost-effective, timesaving and results-oriented option for all plan sponsors to consider.”
To encourage more businesses to sponsor workplace retirement plans, Congress created PEPs through enactment of the SECURE Act. The new plan structures, which became available for adoption starting in 2021 through registered pooled plan providers (PPP), allow two or more unrelated employers to participate in a single retirement plan administered through a PPP.
To learn more about the intelli(k) PEP, click here.
