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Pooled employer plans (PEPs) are one of the most significant developments in the retirement plan marketplace since the enactment of ERISA. They provide an opportunity for employers to adopt “plug-and-play” 401(k) plans with less administrative work, possibly lower costs, and a substantial reduction in fiduciary responsibility.
Those opportunities haven’t gone unnoticed. In the few years since SECURE 1.0 created PEPs, they have amassed billions of dollars in plan assets.
As a result, PEPs are now an important option for financial professionals who recommend 401(k) plans to employers. However, that also places a burden on financial professionals to understand the benefits and to match those features with the needs and preferences of employers.
This article is intended to help financial professionals with that task.
Fred Reish, JD is not an employee of Hartford Funds.
The views expressed here are those of Fred Reish. They should not be construed as investment advice or as the views of Hartford Funds or the employees of Hartford Funds. They are based on available information and are subject to change without notice. The information above is intended as general information and is not intended to provide, nor may it be construed as providing, tax, accounting or legal advice. As with all matters of a tax or legal nature, please consult with your tax or legal counsel for advice. This material and/or its contents are current at the time of writing and may not be reproduced or distributed in whole or in part, for any purpose, without the express written consent of Fred Reish.
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Fred Reish is an ERISA attorney whose practice focuses on fiduciary responsibility, retirement income, and plan operational issues. He has been recognized as one of the “legends” of the retirement industry by both PLANADVISER magazine and PLANSPONSOR magazine.