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What You Need to Know About Pooled Employer Plans

By Fred Reish

The SECURE Act created a new type of plan—a pooled employer plan known as a PEP. Beginning January 1, 2021, these plans will play a significant role in the retirement plan market.

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.

The SECURE Act created a new type of plan—a pooled employer plan, known as a PEP. These plans are likely to be a part of your future, so it will pay to understand what they are and the opportunities they offer. The law allows PEPs to be established beginning January 1, 2021, and some providers will start operating their PEPs on that date. Other PEPs will probably roll out later in the year after the Department of Labor clarifies the rules for using proprietary services and investments.

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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