There’s strength in numbers.
A big benefit for big groups.
The best benefit for your organization.
When organizations offer a beneficial retirement plan to their participants, it attracts new members and retains existing ones. Businesses come to see the organization as one that can be trusted, one that is valuable. So organizations should take care to ensure the perks they offer are truly top-notch.
Pooled pricing might be the top feature of a Syndicate. Much like purchasing food or supplies in bulk, a Syndicate allows businesses to group their participants together to take advantage of scaled pricing they could not get otherwise.
Built for little guys
Time is often the biggest obstacle to small businesses adopting a retirement plan. With a Syndicate, the business owner offloads the day-to-day administrative work, so the only tasks left to them can be done in about 10 minutes per year.
Loved by employees
Employees love the guided portfolio builder, the ease of management, and the stellar customer support. Live support is available by phone, email or chat.
Solutions that stick.
No fiduciary liability
While some group plans take weeks or even months to set up, your Syndicate can be up and running the same day.
Excellent fund options
Offload the hassles that come with other group plans.
Each plan within a Syndicate has its own fiduciary and files its own reports, and comes with no termination fee, making it portable and easy to remove should the organization and the member ever need to part ways.
A Syndicate does not require an outside audit, and individual plans only need auditing if they have 120+ participants. This structure removes one of the biggest downsides to group plans.
While most Syndicates will have a financial advisor involved, participating businesses can also bring their own advisor along if they choose to. Advisors can help with plan design and improve outcomes and participation.
Are you a financial advisor?
Talk to us about the possibility of serving as the 3(38) fiduciary.
Would you benefit from a Syndicate?
Contact us for a personal consultation.
While some business owners may realize some distinct advantages of joining a PEP versus implementing their own 401(k) plan, there are some downsides to going this route.
A high-quality and low-cost benefit can provide an attractive reason for businesses to join your organization, and to remain as members long term.
The traditional offering for a retirement benefit plan for a chamber of commerce is to sponsor a MEP. But the MEP is simply the wrong fit for this type of organization.