Ameritas is launching its new pooled employer plan (PEP), available on Ameritas’ flexible retirement plan platform.
Ameritas will serve as the recordkeeper, with TRG Fiduciary Services serving as the pooled plan provider. LeafHouse Financial will act as the plan 3(38) investment fiduciary, using their proprietary technology to select, evaluate and monitor investments. Charles Schwab Trust Bank will serve as directed trustee.
“PEPs pave the way for Ameritas to help the lifeblood of our communities—small business and local organizations. They can offer a competitive retirement plan to their employees, helping them achieve financial security and overall wellness. Every U.S. worker deserves the chance to save for a dignified retirement. We’re a leader in establishing and growing multiple employer plans and pooled employer plans, and now we have one of our own. Our PEP gives small and mid-size businesses and organizations the opportunity to establish a retirement plan with more ease and alleviates those common roadblocks that cause resistance toward sponsoring a plan,” said Jim Kais, executive vice president of retirement plans for Ameritas. “Plan sponsors will now have a viable solution that reduces costs, lessens administrative burdens, and most of all, minimizes financial and legal risk.”
“What’s great about the new pooled employer plan from Ameritas is that both specialist advisors and generalist financial professionals can grow their practice while streamlining administration. And with our flexible platform and managed account options, financial professionals can satisfy varying investment appetites and offer personalized plans,” added Scott Holechek, Ameritas institutional sales leader and pooled employer plan thought leader.
Ameritas is the latest among several retirement planning firms now offering PEPs. Sallus Retirement, along with Tampa, Florida-based Independent Financial Partners (IFP), announced a new distribution partnership for its PEP last October. Also that month, RBC Wealth Management, Transamerica, and FuturePlan teamed up to offer a plan for small- and midsized businesses.
The news comes as Ameritas announced it placed over $1 billion in new asset sales and over 1,500 plans in 2022, representing 401(k)s, multiple employer plans (MEPs), and 403(b) and governmental retirement programs.
Ameritas retirement plans serves a national client base of 8,100 plans, 250,000 participants with a balance and $17.5 billion in assets under administration.
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Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.
