Equitable Launches 401(k) PEP

Equitable has launched its pooled employer plan (PEP), Equitable Retirement Access. 

The new offering is designed to provide small and medium-sized businesses (SMBs) with a scalable and cost-efficient way to offer their employees a workplace retirement plan.

“Small businesses are an important growth engine for the U.S. economy, creating two-thirds of new jobs in recent decades. Yet, millions of these employees lack access to workplace retirement savings plans, hindering the ability of small business owners to attract and retain talent,” said Jim Kais, head of Group Retirement at Equitable. “Our new 401(k) PEP offering makes it easier for small business owners to provide an affordable solution to help their employees build a secure financial future, while alleviating the administrative burdens of running a retirement plan.”

Equitable’s new 401(k) PEP offering is available through the Equitable Retirement Vision platform. PlanConnect LLC, an affiliate of Equitable, serves as the recordkeeper for Equitable Retirement Access. Pension Plan Specialists will act as the pooled plan provider, third-party administrator and 3(16) administrative fiduciary. SWBC Retirement Plan Services will function as the 3(38)-investment fiduciary, and Plan Notice LLC will handle notice delivery services.