A Retirement Plan Built for Small Firms & Large Firms Without the Usual Burden
If you’ve wanted to offer a 401(k) but held back due to cost, complexity, or time, AIA Pennsylvania is introducing a new pooled retirement plan designed specifically for small and large architecture firms like yours. By leveraging our collective network, this program reduces administrative workload, lowers costs, and helps you offer a meaningful benefit to attract and retain talent without taking on the full burden alone. If you currently offer a 401(k) plan this can be a cost savings for you.
We are proud to offer the AIA Pennsylvania 401K Plan Pooled Employer Plan (PEP),a retirement plan solution created in partnership with RBC Wealth Management, TAG and Transamerica. When participating employers join, they’ll have a professional service team by their side to:
- Manage most of the plan’s administrative tasks
- Mitigate a participating employer’s fiduciary responsibilities
Participating employers may even reap cost savings through economies of scale, compared to sponsoring a plan on their own.
Employees benefit, too, by gaining access to professionally selected investment options, support from financial professionals, and educational tools and resources designed to help them stay on course to reach their retirement goals.
QUESTION AND ANSWER
Q. Why are we excited about this new benefit?
A. This plan is available to Sole proprietors to Large Firms (150 + people)
Q. What is this plan?
A. The AIA Pennsylvania 401K Group Plan Solution
Q. What is the advantage of offering my employees a 401K vs. a Simple IRA plan?
A. The largest benefit is higher contribution limits. Additional advantages are:
- Automatic payroll deduction pretax
- No income limits
- You can provide loan options
- Delayed minimum distributions
Q. Why does the AIA Pennsylvania plan a benefit to our firm vs. our current 401K plan?
A. The largest benefit is no cost and no administration for this plan. You can focus on your firm and leave the administration work to the AIA Pennsylvania 401K Team.
Q. Can I still choose how our plan works and what benefits it provides?
A. Yes, you still individually design your plan.
Q. How does this plan reduce paperwork and mitigate fiduciary risk? A. Good news: The AIA Pennsylvania Pooled Employer Plan (PEP), gives participating employers the opportunity to offer a comprehensive retirement plan while reducing their administrative tasks and mitigating fiduciary risk.
A. Through a variety of strategic partnerships, many administrative duties, including filing Form 5500, associated with sponsoring a plan are outsourced to a professional service team, so you can focus on what matters most: running your business!
Join us to learn how it works and whether it’s a fit for your firm.