The Platinum 401k multiple employer retirement plan program can allow employers to focus on running their businesses instead of their 401k plan, while also lowering both their fiduciary liability and plan operating costs.
Proposed Tax Bill Includes Language to Expand MEPs. Dramatically: theplatinum401k. “(H) TREATMENT AS SINGLE PLAN.
—For purposes of subparagraphs (E) and (G), a plan described in section 413(c) shall be treated as a single plan rather than as separate plans maintained by each participating employer. " The proposed language in the Tax Bill, if signed into law, will effectively negate the authority behind the Department of Labor's Advisory Opinion 2012-04(a) by acknowledging that the adopters within a 413(c) multiple employer plan are not to be separated out with individual filing responsibilities. This means that the current requirement for Open MEP's that include filing individual Form 5500's, requiring individual plan audits for those adopters whose size makes such an audit a requirement, and the need for an individual ERISA Bond will disappear under the new law if it is enacted. Laws and sausage should never be watched being made.
Tax laws even more so. With that said, the bipartisan nature of the interest to expand multiple employer plans cannot be overstated. The Platinum 401k, Inc. – The Home of All Retirement Plan Solutions. A concerted effort in Washington to get more employers to offer retirement plans has raised the profile of multiple employer plans, a largely untapped market for institutional money managers and other service providers.
Unlike multi employer plans, which serve employers in a specific industry and are typically collectively bargained and managed, a multiple employer plan is adopted by two or more unrelated employers that do not want the administrative burdens and fiduciary responsibilities of sponsoring a plan themselves. The three types of MEPs are those sponsored by a professional employer organization such as an employee leasing company, which can offer it to clients; by a trade group for its members; or “open” MEPs co-sponsored by employers with no business connection.
Some MEPs are several decades old, with the concept well established among professional organizations and associations as well as large corporations with numerous subsidiaries. Like this: Like Loading... Our Clients Can Tell Our Story Better Than We Can! “ The Platinum 401k is a first class organiz... Our Clients Can Tell Our Story Better Than We Can! - Theplatinum401k. Small 401k Plans in 2021 — What’s In Store for the Marketplace. There continues to be a huge shift in how retirement plans are sold and serviced in 2017.
I think I have a pretty good idea on how the smaller end of the marketplace will be operating in just a few years after Congress gets involved. And it’s a real game changer. But first, a little background….. Before the Department of Labor’s Advisory Opinion 2012–04a was issued, Multiple Employer Plans were poised to start dominating the small to medium-sized case market in the U.S. By asset size, we’re discussing everything from a start-up 401k plan up to a plan as large as $50,000,000. The Platinum 401k, Inc - United States , United States - Qtell Downloads Free Classifiedads Free Classified Wholesale Free Freeads Trading Business Global Trade Post Advertising. The Platinum 401k, Inc. - Find Me Top. Multiple Employer Plan - Insurance, Services - Clearwater, Florida, United States. The Platinum 401k, Inc. – The Home of All Retirement Plan Solutions. “The Platinum 401k is a first class organization consisting of a great team of subject experts willing to go the extra mile.
We are extremely satisfied with their service.” Smokey Bones Restaurants “We have been with The Platinum 401k since 2011, and it has been a great experience!” Dytran Instruments, Inc. “When it comes to administering retirement plans these days, you want The Platinum 401k on your side to help you be fully compliant with all the new 401k plan regulations.” Small 401k Plans in 2021 - What's In Store for the Marketplace. Platinum 401k Adds Hartford Lifetime Income Option to MEP ~ America's Multiple Employer Plan and 401k Outsourcing Experts. Platinum 401k Adds Hartford Lifetime Income Option to MEP The Platinum 401k multiple employer plan program will now include a retirement income option from The Hartford.
The Platinum 401k multiple employer plan (MEP) allows plan sponsors to eliminate their annual plan audit, Form 5500 filings, trustee-level liability, and investment fund selection responsibility. It features investment products from Great-West Retirement Services, John Hancock, and The Hartford. "We've seen a growing interest from employers who are seeking income protection for their employees in retirement", said Terrance Power, President of American Pension Services. "The Hartford's new Lifetime Income program addresses that demand in the marketplace. " Theplatinum401k - Platinum 401k Adds Hartford Lifetime Income Option to MEP. Retirement Plan Solutions — Multiple Employer Plans and The 401(k) Advisor. A Plan for Retirement - Theplatinum401k. As Fiduciary Concerns Grow, Multiple Employer Plans Look Compelling to Some Companies by Terrance Power. By Terrance Power Theplatinum401k Three main reasons lead some employers to join a multiple employer plan (MEP), says Jim Kais, Vice President and Director of Institutional Sales and Special Markets at Transamerica Retirement Services.
First, these employers may not want to assume full fiduciary responsibility or do not have the expertise to assume it fully. “They want to mitigate that risk,” he says. Second, joining an MEP—not to be confused with the multiemployer plans often seen in unionized settings—means a large offload of administrative duties for adopting employers. In these challenging times, many want to focus their time and energy on top-line revenue generation, he says. Senate Bill 3471 Would Greatly Expand Multiple Employer Plans in 2020.
401k Outsourcing. Finance Lease Why should you choose I Love Loans for your equipment leasing and finance needs?
Simply because WE LOVE LOANS. We work with financial leasing needs every day, so loans and finance is our specialty. Senate Bill 3471 Would Greatly Expand Multiple Employer Plans in 2020. As DOL Fiduciary Clears Latest Hurdle, Advisers Expect Changes Will Be Made. It’s Time for 401(k) Plans to Become Part of the Sharing Economy. 401k Outsourcing. The Pep Talk - What's Coming for MEP's. Legislation, DOL Rule Could Boost Multiple Employer Plans. The Platinum 401k, Inc. in. 401k Retirement Plan Companies. Theplatinum401k, Author at Mr Rich Man. Palm Bay, Florida: 401k Retirement Plan Companies - CHiMPLiST.COM. Multiple Employer Plans Have Bright Future - Theplatinum401k. Retirement Plan Solutions — Multiple Employer Plans Have Bright Future. The Platinum 401k, Inc. - Clearwater, Florida, USA, Florida, 33759, USA - Financial Advisers. America's Multiple Employer Plan and 401k Outsourcing Experts. Outsourcing is the hiring of a consultant from outside the company to complete a task or provide a service that they are better suited to do then your own employees.
Many small to midsized plans are beginning to outsource 401(k) fiduciaries. Companies outsource many services, including payroll, auditing, marketing, legal defense, building maintenance, HR services and advertising, to name but a few. The reasons for outsourcing generally include: Cost savingsBetter outcomeCost savingsIncreased productivityAllows employees to do the things that they do best Numerous business experts and consultants tout the benefits of outsourcing. There is now a growing trend for 401k outsourcing services for many of the same reasons, but also because there are additional benefits in so doing, such as: Reduced liabilityIncreased objectivityFewer conflicts of interestIncreased service level ….
Like this: Like Loading... Retirement Plan Solutions - North America, Americas. Interview: Terrance Power, The Platinum 401(k) by Ary Rosenbaum. File preview - What Kind of “Fiduciary” Are They.pdf. Interview: Terrance Power, The Platinum 401(k) by Ary Rosenbaum Multiple employer plans (MEPs)... - justpaste.it. Interview: Terrance Power, The Platinum 401(k) by Ary Rosenbaum Multiple employer plans (MEPs) especially open MEPs have been a hot topic since the Department of Labor issued an advisory opinion that a specific Open MEP wasn’t a single plan for Form 5500 purposes.
It looks like Congress may pass legislation allowing Open MEPs to be treated as a single plan again. If you need to speak to a MEP expert, you probably can’t find anyone better than Terrance Power of The Platinum 401(k). Multiple Employer Plans - an Enticing Alternative for Plan Sponsors. 401(K) Outsourcing: The next Big Thing. Retirement Plan Solutions. Multiple Employer Plan Expansion Imminent? What Kind of “fiduciary” Are They? 401k Outsourcing. 401k Retirement Plan Companies. What Kind of “fiduciary” Are They? What Kind of “fiduciary” Are They?
When you’re looking for relief from the personal liability and financial risks of being a 401(k) plan fiduciary, not all fiduciary protection is alike. You don’t stop being a plan fiduciary just because a vendor signs on as a plan fiduciary or gives you a certificate! Fiduciary Warranty: Warranties offer to pay court costs or claims if the fund menu is deemed not to meet certain minimum standards. They usually cover only a fraction of actual fiduciary exposure and often clearly state that the 401(k) provider is not a plan fiduciary. ERISA 3(16) Plan Administrator Services Summary. ERISA 3(16) Plan Administrator Services Summary. NYC Proposes Their Own Private-sector Retirement Plan, Making a Bad Idea Even Worse. 401k Retirement Plan Companies.
For best results with your ad, consider to: 1. Share your ad on social networks. Use the buttons bellow for sharing. 2. Worcester Regional Chamber of Commerce Endorses the Platinum 401k for Their Members - Theplatinum401k. Stay on the Leading Edge with Innovative Retirement Plan Solutions. When people start aging, they can get worried about their lifestyle after they retire. They can look for ways that they will be able to maintain their current lifestyle even after they are no longer working.
Retirement plans are a great way to help insure this, as these programs can offer retirees a guaranteed income for the rest of their lives. One must start planning for their future early, and one should invest regularly in order to secure both their own financial future as well as that of their family members. Multiple Employer Plan. Retirement Plan Consultants. Worcester Regional Chamber of Commerce Endorses the Platinum 401k for Their Members. The 6,000 member Worcester Regional Chamber of Commerce has endorsed The Platinum 401k as the retirement plan solution for their members across Central Massachusetts.
“We’re delighted to have secured the endorsement of one of the largest regional chambers in the country”, stated American Pension Services President Terrance Power. “The Chamber was looking for a retirement program to bring to their members that would provide them with the benefits associated with a multiple employer plan program without their incurring any plan sponsor or fiduciary liability. The Platinum 401k program fits their requirements perfectly.” As the largest Chamber in New England, the Worcester Regional Chamber of Commerce is dedicated to enhancing the region’s economic prosperity and the vitality of its business community. The mission of the Chamber is to support existing businesses and promote economic development in the Worcester region by being a bold, strong, articulate and effective advocate.
Like this: The Platinum 401k Advisor Sales Guide.pdf. The Platinum 401k Advisor Sales Guide. Worcester Regional Chamber of Commerce Endorses the Platinum 401k for Their Members. The 6,000 member Worcester Regional Chamber of Commerce has endorsed The Platinum 401k as the retirement plan solution for their members across Central Massachusetts. Retirement Plan Consultants - Other, Services - Clearwater, Florida, United States. Stay On The Leading Edge With Innovative Retirement Plan Solutions. 401k Retirement Plan Companies. The Multiple Employer Plan: an Excellent Tool for Employers to Expand Retirement Plan Coverage. 401K Outsourcing. Stay on the Leading Edge with Innovative Retirement Plan Solutions.