Pooled Employer Plans

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For Advisors

Custom-brand your own Pooled Employer Plans effective January 1, 2021

We can establish and oversee your entire custom branded plan for you in conjunction with our 3(16) Plan Administrator and third party administration services. This can allow you to decide if you want to be the Pooled Plan Provider, 3(38) Investment Manager, advisor/employee educator, etc. under the new law.

POOLED RETIREMENT PLAN SERVICES

As one of the country’s most experienced independent third party administrators (and with a decade of experience serving as a 3(16) Plan Administrator to multiple employer plan clients), we can assist or become fully engaged in oversight of your Pooled Employer Plan. We have over 30 years of experience working with multiple employer plan clients across the country.

POOLED EMPLOYER PLANS/ ASSOCIATION RETIREMENT PLANS

Establishing a Pooled Employer Plan for your clients or associates will provide a tremendous advantage to both you and your clients. Clients and plan participants will benefit from elimination of individual plan audits and individual Form 5500 filings, and also potentially enjoy dramatic internal cost savings by leveraging their individual plan assets with those of potentially hundreds or more adopting employers. And the elimination of the “one bad apple” issue in 2020 provides each employer with the peace of mind of knowing that the actions of another adopting employer in the plan won’t negatively impact their own group’s qualified status.

LIABILITY REDUCTION AND LOWER COSTS

A pooled employer plan can provide a dramatic reduction in an employer’s fiduciary liability. They no longer serve as the Plan Administrator or Trustee of their own plan, nor are they responsible for fund selection and monitoring duties. They still retain an element of fiduciary responsibility – primarily for the selection and oversight of the parties running the Pooled Employer Plan as well as for the timely remittance of employee elective deferrals and data as requested by the pooled plan provider and other service providers to the plan. The internal cost savings to the plan participants can be dramatic – perhaps as much as 50% or more!

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Our Team

With over 60 years of retirement plan industry expertise between them, The Platinum 401k leadership enjoys one of the top reputations in the industry for successful innovative retirement plan solutions for companies across America.

TERRANCE P. POWER,
ERPA, CFP®, QPA®, CRPS®

President, CEO

Terry Power has been in the retirement plan industry for over 38 years. He is responsible for overseeing the operation of the firm as well as the overall marketing and communication strategy. Terry has been involved in the installation of over 3,000 retirement plans during his career and is widely regarded as an expert in the field. He has an extensive background in the multiple employer retirement plan field, having over 25 years of experience in this highly specialized area.
Terry is a frequent speaker at industry events and is often quoted in financial publications.

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