What is it?
A 401K Group Employer Plan provides affordable, managed 401K solution for a discount for your employees. Powered by Transamerica and TAG Resources, the plan is a great choice for small business who want a more cost effective plan.
These plans are easy to administer. With ERISA-trained employees and nearly 15 years developing its exclusive Bedrock Software platform, TAG Resources LLC removes more than 90% of the administrative burden.
Fiduciary protection comes standard. By shifting 3(16) administrative and certain 402(a) named fiduciary duties to TAG Resources, employers can mitigate defined legal obligations and responsibilities.
Plans are in compliant. TAG Resources’ processes are developed to ensure plans are in compliance with DOL and IRS regulations.
A cost-effective solution. Built on a pooled-pricing model, the GPS solution often costs less than other programs offering fewer comprehensive services.
Work with well-known providers. The GPS combines 3(16), 3(38), and TPA services from industry leaders for an “end-to-end” retirement plan solution.
Why?
A high-quality retirement plan can help attract & retain talented employees. The responsibility that plan sponsors must take on when offering a retirement plan to employees is significantly reduced with this solution.
With this affordable solution, plan sponsor responsibilities are reduced to:
*Required, but may be provided by payroll company.
**Plan sponsor responsibilities are not limited to items noted above. Plan sponsors should review their service agreements and fiduciary responsibilities under ERISA.
24/7 Online Account Access
Personalized Support
Financial Wellness Center
Your Retirement Outlook
The Benefits
Takes pressure off your internal administrative resources and allows you to use those resources elsewhere.
With ERISA-trained employees and nearly 15 years developing its
exclusive Bedrock Software platform, TAG Resources, LLC removes over 90% of the administrative burden.
Built on a pooled-pricing model, the Exchange solution often costs less than other programs offering fewer comprehensive services.
Provides access to service providers with ERISA and investment expertise
TAG Resources’ processes are developed to ensure plans are in compliance with DOL and IRS regulations.
TAG delivers fiduciary protection at the highest level.
By shifting 3(16) administrative and certain 402(a) named fiduciary duties to TAG Resources, employers can mitigate defined legal obligations and responsibilities.
Outsources investment selection responsibility to investment professionals.
The Exchange solution combines 3(16), 3(38), and TPA services from industry leaders for “end-to-end” retirement plan oversight.
How it Works
Association
Recordkeeper
Financial Advisor
Plan Administrator
Investment Manager
Recordkeeper
With a history dating more than 100 years, Transamerica is a leading provider of insurance, retirement, and investment solutions, serving millions of customers throughout the United States. In addition to being the recordkeeper for the handling of the benefit payments and enrollments, Transamerica provides support up to and through the plan participant’s transition to retirement.
Financial Advisor
Offering a retirement plan and selecting the providers to run the retirement plan is a fiduciary decision. Your Financial Advisor plays a key role in helping you with the due diligence process and documentation of that process. The advisors who offer the solution know the complexity and liability of running a retirement plan. Advisors who use the solution look to reduce the administration duties and risk to you at a cost that is competitive. In addition, many offer services that help increase participation, help with enrollment meetings, provide investment guidance and education, provide regular plan updates. Under this group plan, members retain the option to work with their current financial advisor, or opt to work with Baird Private Wealth Management.
Plan Administrator 402(A), 3(16), 3(21)*
TAG Resources is the Plan Administrator and a Signatory Named Fiduciary, as defined under ERISA sections 402(a), 3(16), and 3(21). It is our job to perform all functions necessary to keep your plan compliant. As such, TAG Resources is responsible for the day-to-day operations of your plan. The functions we perform on your behalf include: signing and filing of the Form 5500, QDRO determinations, authorization of benefit payments, ensuring proper spousal consent on payments, service of legal process for potential lawsuits related to the plan, plan operations, participant claims and appeals, distributions, beneficiary determinations, and timely completion and filing of annual information returns on Form 5500, including any related extensions to the plan.
Investment Manager 3(38)
Fiduciary-Plus was created to partner with advisors as we strive to provide the best in class services to plan sponsors and their plan participants. Fiduciary-Plus helps a business owner/plan committee manage fiduciary liability by engaging RPA to accept responsibility for investment decisions as an ERISA defined 3(38) discretionary investment manager. But the services don’t stop there. Fiduciary-Plus also offers: plan governance education webinars and certificates, benchmarking of services and fees, and a fiduciary vault to support the storage of vital documentation.
Association
The Cedar Rapids Metro Economic Alliance is a membership organization serving nearly 1,100 members. Membership offers many benefits to businesses including this group 401K plan offering.
Sound like the solution your business has been looking for?
Let’s chat!
Sam Tvedt, CFP®
Financial Advisor
Baird
Ph: (319) 297-3829
Anne Laugen
Membership Growth
Specialist
Ph: (319) 730-1404
Not currently a member of the Economic Alliance, and need more information?