Introduction: The Challenge for Small Businesses
Small businesses often face significant hurdles when it comes to offering competitive retirement benefits. High administrative costs, complex compliance requirements, and limited resources can make it difficult to provide robust retirement plans that attract and retain top talent. This is where a pooled employer plan (PEP) can make a transformative difference.
What Is a Pooled Employer Plan (PEP)?
A pooled employer plan is a retirement solution that allows multiple, unrelated businesses to participate in a single, professionally managed retirement plan. Enabled by the SECURE Act, PEPs are designed to:
- Reduce administrative burdens by centralizing plan management and reporting.
- Lower costs through economies of scale, resulting in better investment fees and overall savings.
- Minimize fiduciary risk by transferring most responsibilities to a pooled plan provider (PPP).
How Target Retirement Solutions Makes Pooled Plans Work
At Target Retirement Solutions, our mission is to help small businesses thrive by simplifying retirement benefits. Here’s how we deliver value:
- Expert Guidance: Our team of retirement financial advisors provides hands-on support, ensuring you understand every aspect of your pooled plan.
- Streamlined Administration: We handle compliance, reporting, and plan management, so you can focus on running your business.
- Cost Savings: By pooling assets with other employers, you gain access to lower investment fees and reduced administrative expenses.
- Customizable Solutions: Employers retain flexibility to select contribution levels and plan features that fit their unique needs.
Real Results: Employer Success with Pooled Plans
Employers who join a pooled plan experience:
- Significant cost reductions—PEP participants often pay fees that are half those of traditional 401(k) plans, resulting in up to 11% more savings over a career.
- Higher participation rates—Aon’s analysis found an 11.4% increase in employee participation after 12 months in a pooled plan.
- Reduced workload—Most administrative and fiduciary responsibilities are delegated to the PPP, freeing up valuable time for business owners.
Why Small Businesses Choose Target Retirement Solutions
- Local Expertise: If you’re searching for a “retirement financial advisor near me”, our Florida-based consultants offer personalized service and deep knowledge of local regulations.
- Future-Focused Planning: We help you capitalize on retirement credits under the SECURE Act 2.0, maximizing benefits for your business and employees.
- Trusted Partnership: Our relationship-driven approach ensures you receive ongoing support, from plan selection to compliance and beyond.
Take the Next Step Toward Simplified Retirement Benefits
Offering a competitive retirement plan doesn’t have to be complicated or costly. With a pooled employer plan from Target Retirement Solutions, you can provide valuable benefits to your team while minimizing your workload and expenses.
If you’re ready to explore your options with a retirement financial advisor, contact Target Retirement Solutions today. Let’s build a brighter future for your business and your employees.
Target Retirement Solutions
Your partner in streamlined, cost-effective retirement planning for small businesses.
