**NJ Firms with 25+ Employees Required to Offer Access to Retirement Plans - (read more)
Delivering Value to Members of Every Size
Through a Pooled Employer Plan (PEP) - EANJ Retirement Advantage - administered by Benefits Consulting Group, Inc.- EANJ members help their employees achieve retirement security by participating in a customizable, fiduciary-managed, high-quality 401(k) and profit sharing plan.
A PEP is a retirement savings vehicle in which multiple employers participate in a single qualified retirement plan and trust. A PEP is governed by the Employee Retirement Income Security Act (ERISA), the same as any employer-sponsored retirement savings plan. As such, the PEP is administrated at the highest fiduciary standards and beneficiaries have the same legal protections.
Participating employers choose their own funds and design their own plan, which enjoy the same favorable tax treatment as any employer-sponsored plan. However, most of the administrative functions are handled by the PEP Administrators, relieving participating employers of administrative burdens.
Great Value: Power in Numbers
Pooled Employer Plans allow employers of any size to have the same advantage as large corporations with thousands of employees. For example, big corporations with thousands of employees benefit by having much lower costs and fees per employee for their retirement plans due to the size of plan assets and economies of scale. Likewise, through the EANJ Retirement Advantage, small and mid-sized employers can access best-in-class retirement savings funds while enjoying the lowest fees by leveraging the assets of the entire Plan to gain access to premium funds that would otherwise be closed to them because they cannot meet high minimum investment thresholds.
Honored Fidelity
The Employers Association of New Jersey and American TCS are the PEP sponsors and have appointed trustees to provide fiduciary functions. BCG Securities, Inc. is a co-fiduciary and serves as the PEP's investment fiduciary and is responsible for fund selection, ongoing monitoring and fund replacement. Generally speaking, funds are selected to provide retirement security to beneficiaries and to provide benefits at normal retirement age.
Fund selection is subject to a fiduciary standard. Funds include Vanguard, T. Rowe Price, Fidelity and Franklin Templeton and many more. Fund purchase are commission-free and the PEP is managed for the sole benefit of beneficiaries.
The PEP custodian is Mid-Atlantic Trust Company.
Benefits of adopting a retirement plan through a PEP:
- Cost savings as compared to operating your own employer plan
- Less administration time - more time to grow your business!
- Fiduciary support
- Plan Flexibility
- Access to more investment choices
- Tax deduction
- Employee retention and recruitment
- And many more
Exceptional Service
To help employers and employees receive the full benefit of their retirement plan, additional resources are provided including enrollment meetings with each employer/employee, one-on-one review of the their current retirement standings with a licensed Financial Advisor, annual or semi-annual reviews of portfolios and more.
For More Information
Call James O'Donoghue at BCG Securities, Inc.at 856-824-4166 or email James at jodonoghue@bcgsecurities.com.