Retirement Savings Advantage

Retirement Savings Plan

Retirement saving plans offered by employers for employers, managed by fiduciary trustees.

Through a Multiple Employer Plan (MEP) - 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 MEP is a retirement savings vehicle in which multiple employers participate in a single qualified retirement plan and trust.  A MEP is governed by the Employee Retirement Income Security Act (ERISA), the same as any employer-sponsored retirement savings plan.  As such, the MEP 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 MEP Administrators, relieving participating employers of administrative burdens.

Great Value

Multiple 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 a much lower cost per employee for their retirement plans due to economies of scale.  Likewise, through the EANJ Retirement Advantage, small and mid-sized employers can access a best-in-class retirement savings plan while obtaining significant cost reductions.

Honored Fidelity

The Employers Association of New Jersey is the MEP sponsor and has appointed trustees to provide fiduciary functions. BCG Securities, Inc. is a co-fiduciary and serves as the MEP'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 MEP is managed for the sole benefit of beneficiaries.

The MEP custodian is Mid-Atlantic Trust Company.

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.

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