Do your employees have access to a quality retirement savings program?
May 3, 2022
SBAM is committed to offering high-quality workplace benefits designed to improve the well-being of our members and their employees.
We believe all employees deserve access to a quality retirement savings program that can help them enjoy a healthier, more secure future. Yet concerns about cost and administrative difficulties may keep you from offering a plan. Through our partnership with Transamerica, your employees can enjoy a workplace retirement plan that can help you gain a competitive edge as you compete for talent.
There are many benefits to the SBAM Pooled Employer Retirement Plan including:
Administration: When you join the SBAM Pooled Employer Retirement Plan, most administrative tasks are handled by an independent third party who also acts as fiduciary. You can focus on your business, while they handle tracking, reporting, compliance, testing, and many other day-to-day plan activities.
Cost Savings: By joining the SBAM Pooled Employer Retirement Plan, you benefit from the economies of scale enjoyed by large businesses. Pooling client assets can create cost savings, which are passed on to you and your employees.
Tax Advantages: Certain qualified defined contribution plans allow employer contributions to be deducted as a business expense.
Besides attracting and retaining talent, an effective retirement plan can help create a retirement-ready workforce and lead to a more engaged, productive team. The SBAM Pooled Employer Retirement Plan is a 401(k) solution designed to reduce fiduciary risk and decrease your administrative burden — and it may even reduce overall plan costs.
Learn more about the SBAM Pooled Employer Retirement Plan by calling us at (800) 362-5461 or click here.