1/11/2024 0 Comments Nfp irThe ‘YOUR 401(k) PLAN’ PEP is a cost-effective retirement plan solution that leverages qualified fiduciaries and pooled buying power to reduce administrative costs and liabilities to the employer,” said Michael M. “Employers are often challenged with navigating the inherent administrative and fiduciary burdens in managing an employee retirement plan. What’s more, the launch of NPPG’s new PEP comes at a time when recent data from Voya Financial has found that a majority (83%) of individuals agree or strongly agree that those who work for small businesses are less likely to have access to benefits and opportunities to save for retirement. Since their inception, PEPs have provided a greater opportunity to broaden the access of retirement plans for companies of all sizes. Through the passing of the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, PEPs became available in the marketplace at the start of January 2021. NFP, a leading insurance broker and consultant, will also serve as the consultant firm for adopting plan sponsors. With NPPG serving as the pooled plan provider, the “YOUR 401(k) PLAN” PEP will deliver retirement plan services to clients in collaboration with flexPATH Strategies as the ERISA 3(38) Investment Manager, and Voya Financial, as the plan recordkeeper. (NPPG) announced today the launch of a new pooled employer plan (PEP). National Professional Planning Group Inc. Voya Financial serves as plan recordkeeper, providing holistic participant experience to help drive greater retirement outcomes
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