SBAM Issues Retirement Plan RFP
February 2, 2021
The Small Business Association of Michigan (SBAM), and its for-profit subsidiary, the Small Business Resource Center (SBRC) are seeking proposals from eligible plan recordkeepers, ERISA 3(16) fiduciaries, and third-party administrators (TPAs) to act as a Pooled Plan Provider (PPP) and provide its own and its 28,000+ small business members with a Pooled Employer Plan (PEP) as authorized under the SECURE Act.
SBAM is looking for a PPP to provide SBAM and our members with a competitive, affordable, and innovative product. We envision that we will sponsor a PEP that contains both traditional and Roth 401(k) features, both safe harbor and non-safe harbor matches and/or Qualified Nonelective Contributions (QNECs) at the employer’s discretion as well as profit sharing components.
All questions related to the information required, due dates, decision timelines and additional information are included in these RFPs.