Mar 29, 2021
Pooled Employer Plans (PEPs) are emerging as a new market for retirement providers—and a new “pool” of clients for financial advisors. These plans ease an employer’s administrative and fiduciary burden while allowing unrelated employers to participate in a single, shared 401(k) plan.
So what type of employer could benefit from a PEP? Potential candidates include:
- Employers that currently have a plan and want to reduce their operational and fiduciary duties, obligations, liabilities and expenses
- Plans that want to manage plan audit expenses
- Micro or small plans with less than $5 million in assets
If you have clients that would benefit from simplified plan administration and less fiduciary risk when it comes to providing affordable retirement benefits to their employees, our PEP solution might be just what you are looking for.
Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser and wholly owned subsidiary of Newport Group, Inc. For more information about Newport Group Consulting and its services, please visit newportgroup.com or refer to our Form ADV Part 2, which is available by contacting us at 407-333-2905, or visiting our website, www.newportgroup.com.
Newport is well positioned in the PEP marketplace, thanks to our years of experience with multiple employer plans. Earlier this year, we launched our very own product -- the Newport Secure Retirement Pooled Employer Plan, designed for advisors who do not offer a PEP of their own but need a complete, yet simplified retirement solution for clients.
To learn more, contact your Regional Director or Newport’s Executive Vice President, Business Development, Michael DiCenso at (925) 328-4409.
You can also watch the replays of our recent two-part PEP webinar series on demand here.