The Mesirow Retirement Advisory Services (RAS) group is partnering with Newport Group to offer a new Pooled Employer Plan (PEP) in 2021.
According to the announcement, Mesirow’s RAS professionals are well positioned to bring a PEP solution to market as they have been consulting on Multiple Employer Plans since 2011. The PEP will enable small to mid-sized employers to “pool” their retirement plans, enabling plan sponsors to more effectively manage fiduciary risk and outsource plan operations.
The RAS team will focus on investment research and fund selection, plan design consulting and maximizing participant outcomes, while Newport will concentrate on plan administration, recordkeeping and trust services.
“We are thrilled we will have a robust and affordable solution to offer to retirement plan sponsors that adds to the depth, breadth and reach of our business,” says David Dermenjian, President of Mesirow Retirement Advisory Services. “Mesirow’s entrepreneurial culture, coupled with our product and service offering, robust technology platform and industry-leading participant services will create an elevated client experience and more flexibility for small- to mid-size employers.”
