Pooled employer plans (PEP): A new kind of retirement plan
Pooled employer plans are changing the 401(k) landscape
Pooled employer plans (PEPs) were introduced through US retirement legislation in late 2019 (the SECURE Act) to improve access to retirement plans and encourage savings and retirement income for millions of Americans.
The Mercer Wise pooled employer plan (Mercer Wise PEP) allows plan sponsors of certain plan sizes to pool their retirement resources with those of other employers and delegate most plan responsibilities to Mercer.
By joining the Mercer Wise PEP, organizations may:
- Drive outcomes around lowering risk and improving governance
- Reduce administrative workload and provide an extension of staff
- Enhance participant outcomes
- Access highly-rated institutional shares of investments
- Reduce investment fees by leveraging Mercer’s economy of scale
Using the recordkeeping capabilities of Empower and Mercer’s 25+ year experience in retirement plan management, Mercer Wise PEP could be a valuable alternative for organizations looking for better retirement plan solution.
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