Ameritas rolls out pooled employer plan
TRG Fiduciary Services will serve as plan provider, and LeafHouse Financial will select and monitor the PEP's investments.
Ameritas, a mutual insurance company, announced last week that it’s now offering a pooled employer plan that’s available on its retirement platform.
Ameritas will serve as record keeper for the PEP. TRG Fiduciary Services will serve as plan provider, and LeafHouse Financial will select and monitor the plan’s investments as its 3(38) investment fiduciary.
The 2019 SECURE Act made it easier for unrelated small companies to participate in a common retirement plan. And PEPs have gotten a boost in recent years as states enacted auto-IRA measures that require smaller employers to provide retirement plans.
“Our PEP gives small and midsize businesses and organizations the opportunity to establish a retirement plan with more ease and alleviates those common roadblocks that cause resistance toward sponsoring a plan,” Jim Kais, executive vice president of retirement plans for Ameritas, said in a statement. “Plan sponsors will now have a viable solution that reduces costs, lessens administrative burdens and most of all, minimizes financial and legal risk.”
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