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Pooled Employer Retirement Plan

Envision A Different Kind Of Retirement Solution

SBAM understands what small businesses dislike about 401(k) plans – the cost, the time and really not understanding their fiduciary responsibilities.  The SECURE Act now allows employers from all industries and sizes to band together to create a new type of retirement plan:  Pooled Employer Plan (PEP). Employers may now participate in a PEP instead of sponsoring a traditional 401(k) plan.

The SBAM Pooled Employer Retirement Plan powered by TAG Resources, Transamerica, and Graystone Consulting solves the challenges small businesses face when offering a retirement plan. The SBAM PEP is cost effective and outsources administration and liability to reduce your fiduciary risk.

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Consider converting from a SIMPLE IRA

There are many advantages to switching from a SIMPLE IRA to the SBAM Pooled Employer Retirement Plan (SBAM PEP) including higher contribution amounts, tax advantages, potential cost savings and flexibility in plan features.

If your company has outgrown its SIMPLE IRA plan, switching to a 401(k) plan is easy.  However, you’ll want to begin discussing the process with your financial advisor now to follow the correct process.

Contact us and we’ll get you in touch with our partner, Transamerica, to discuss the advantages of a Pooled Employer Retirement Plan over a SIMPLE IRA and the steps involved to make the switch.

The Secure 2.0 Act was signed into law on December 29th, 2022, as part of the Consolidated Appropriations Act of 2023.  This legislation is intended to make it easier for businesses to offer retirement plans and for individuals to save for retirement.
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SBAM Members Receive Special Savings & Benefits

We’ve negotiated exclusive savings for our members including:

  • Start up plans may be eligible for up to $5,000 tax credit to cover the TAG annual administrative fee (for 3 years).
  • Additional $500 annual credit for three years when a business establishes a retirement plan with automatic enrollment.
  • No initial set up fees.

You must be an SBAM Basic, Premium, VIP or Elite member to enroll in the SBAM Pooled Employer Retirement Plan.

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Our Industry-Leading Partners Behind The Solution.

As a pioneer in pooled-plan solutions, Transamerica will equip our small business members with the tools, resources, and professional support to help your employees pursue a healthier, more secure future. With more than 85 years of experience helping people prepare for retirement they are one of the most recognized, trusted names in financial services.

For over 35 years, Graystone Consulting – Farmington Hills, a business of Morgan Stanley has delivered insightful solutions and best-in-class service to institutional investors, small business owners, and corporate leaders. The group offers advanced resources and fiduciary services for the administration of our retirement plan and helps our small business members integrate their company into their retirement and wealth transfer plans.

TAG Resources is the SBAM Pooled Employer Retirement Plan Administrator and a Named Fiduciary. It is their job to perform all functions necessary to keep your plan compliant and is responsible for the day-to-day operations of your plan.  As the largest end-to-end retirement plan provider in the US, TAG is recognized nationally for pioneering unique pooled Retirement Programs, bundling retirement plans together in a service model previously only available for very large companies.

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Let’s Break it Down

Understanding Pooled Employer Plans (PEPs)

PEPs expand access to retirement plans for all workers by allowing employers from unrelated industries to join a pooled plan arrangement. Benefits to the adopting employers include increased administrative efficiencies, reduced fiduciary risk, and potential cost savings.

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Five Pillars of an Employer Retirement Plan

TAG acts as your company’s 401(k) support team, so you don’t have to act as a retirement expert. TAG acts as a buffer between the Plan Sponsor and the DOL and IRS, and works to keep each plan in compliance with all applicable laws.

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Remove Your Financial Liability

TAG takes on the highest level of fiduciary liability by serving as a Named Fiduciary on the SBAM Pooled Employer Retirement Plan solution. This makes TAG responsible and accountable for operational and investment oversight.

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Are You Shouldering Too Much Responsibility in Your Retirement Plan?

As a small-business owner, you have a lot on your plate beyond managing and growing your business. You know it’s important to offer your employees a retirement program to help them save for the future. You also know a high-quality retirement plan can help attract and retain valuable talent as your business continues to grow.

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Retirement’s Impact on Small Businesses

Retirement plans are an essential business strategy for attracting talent, controlling costs, and securing employees’ financial future.

Many Americans who save for retirement do so through an employer-sponsored 401(k). But nearly half the U.S. workforce (47.3%) may be missing out on an important tool for securing their financial futures.

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Opportunities for Small Businesses to Participate in a Pooled Retirement Plan

The Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law on December 20, 2019 as part of the year-end spending bill. With retirees living longer, the SECURE Act endeavors to enhance benefits from 401(k) plans and IRAs. It also helps Qualified Employer Plans provide benefits for their employees.

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