Equitable Launches 401(k) Pooled Employer Plan
Equitable, a major financial services firm under Equitable Holdings (NYSE: EQH), has launched Equitable Retirement Access, a new 401(k) pooled employer plan (PEP) targeting small and medium-sized businesses. This initiative addresses a critical gap in retirement planning, as over 40% of small businesses currently don't offer retirement plans due to costs and administrative burdens.
The PEP solution, enabled by the SECURE Act of 2019, allows unrelated businesses to pool retirement funds into a single plan managed by a third party, reducing administrative tasks and fiduciary risk. The offering is available through the Equitable Retirement Vision platform, with PlanConnect serving as recordkeeper and several specialized partners handling various administrative and fiduciary responsibilities.
According to an Equitable-commissioned survey, approximately 80% of Americans believe all employers should provide retirement plans, with over 80% stating they would decline job opportunities without such benefits. The company's Group Retirement business currently serves more than 1.2 million clients with various retirement solutions including 401(k), 403(b), and 457(b) plans.
Equitable, una importante società di servizi finanziari sotto Equitable Holdings (NYSE: EQH), ha lanciato Equitable Retirement Access, un nuovo piano di pensionamento collettivo 401(k) (PEP) destinato a piccole e medie imprese. Questa iniziativa affronta una lacuna critica nella pianificazione della pensione, poiché oltre il 40% delle piccole imprese attualmente non offre piani pensionistici a causa dei costi e dei carichi amministrativi.
La soluzione PEP, abilitata dal SECURE Act del 2019, consente a imprese non correlate di unire i fondi pensionistici in un unico piano gestito da una terza parte, riducendo i compiti amministrativi e il rischio fiduciario. L'offerta è disponibile attraverso la piattaforma Equitable Retirement Vision, con PlanConnect che funge da custode e diversi partner specializzati che gestiscono varie responsabilità amministrative e fiduciarie.
Secondo un sondaggio commissionato da Equitable, circa l'80% degli americani ritiene che tutti i datori di lavoro dovrebbero fornire piani pensionistici, con oltre l'80% che afferma che rifiuterebbe opportunità di lavoro senza tali benefici. L'attività Group Retirement della società serve attualmente più di 1,2 milioni di clienti con varie soluzioni pensionistiche, tra cui piani 401(k), 403(b) e 457(b).
Equitable, una importante firma de servicios financieros bajo Equitable Holdings (NYSE: EQH), ha lanzado Equitable Retirement Access, un nuevo plan de empleador agrupado 401(k) (PEP) dirigido a pequeñas y medianas empresas. Esta iniciativa aborda una brecha crítica en la planificación de la jubilación, ya que más del 40% de las pequeñas empresas actualmente no ofrecen planes de jubilación debido a costos y cargas administrativas.
La solución PEP, habilitada por la Ley SECURE de 2019, permite a empresas no relacionadas agrupar fondos de jubilación en un solo plan administrado por una tercera parte, reduciendo las tareas administrativas y el riesgo fiduciario. La oferta está disponible a través de la plataforma Equitable Retirement Vision, con PlanConnect actuando como custodio y varios socios especializados manejando diversas responsabilidades administrativas y fiduciarias.
Según una encuesta encargada por Equitable, aproximadamente el 80% de los estadounidenses creen que todos los empleadores deberían proporcionar planes de jubilación, y más del 80% afirma que declinaría oportunidades laborales sin estos beneficios. El negocio de Group Retirement de la empresa actualmente atiende a más de 1.2 millones de clientes con varias soluciones de jubilación, incluidos los planes 401(k), 403(b) y 457(b).
Equitable는 Equitable Holdings (NYSE: EQH) 소속의 주요 금융 서비스 회사로, Equitable Retirement Access라는 새로운 401(k) 풀 고용주 계획(PEP)을 출범했습니다. 이 이니셔티브는 현재 40% 이상의 소규모 기업이 비용 및 관리 부담으로 인해 은퇴 계획을 제공하지 않는다는 중요한 갭을 해결합니다.
2019년 SECURE 법에 의해 가능해진 PEP 솔루션은 관련이 없는 기업들이 은퇴 자금을 단일 계획으로 하나로 묶어 제3자가 관리하게 함으로써 관리 작업과 신탁 위험을 줄입니다. 이 서비스는 Equitable Retirement Vision 플랫폼을 통해 제공되며, PlanConnect가 기록 보관 역할을 하고 여러 전문 파트너가 다양한 관리 및 신탁 책임을 처리합니다.
Equitable이 수행한 설문 조사에 따르면, 약 80%의 미국인이 모든 고용주가 은퇴 계획을 제공해야 한다고 생각하며, 그 중 80% 이상이 이러한 혜택이 없는 경우 직업 기회를 거부할 것이라고 밝혔습니다. 회사의 그룹 은퇴 사업은 현재 120만 명 이상의 고객에게 401(k), 403(b), 457(b) 계획을 포함한 다양한 은퇴 솔루션을 제공하고 있습니다.
Equitable, une grande entreprise de services financiers sous Equitable Holdings (NYSE: EQH), a lancé Equitable Retirement Access, un nouveau plan d'employeur collectif 401(k) (PEP) destiné aux petites et moyennes entreprises. Cette initiative comble une lacune essentielle dans la planification de la retraite, car plus de 40 % des petites entreprises ne proposent actuellement pas de plans de retraite en raison des coûts et des charges administratives.
La solution PEP, rendue possible par la loi SECURE de 2019, permet aux entreprises non liées de regrouper des fonds de retraite dans un seul plan géré par un tiers, réduisant ainsi les tâches administratives et le risque fiduciaire. L'offre est disponible via la plateforme Equitable Retirement Vision, avec PlanConnect agissant en tant que conservateur et plusieurs partenaires spécialisés gérant diverses responsabilités administratives et fiduciaires.
Selon une enquête commandée par Equitable, environ 80 % des Américains estiment que tous les employeurs devraient fournir des plans de retraite, et plus de 80 % déclarent qu'ils refuseraient des offres d'emploi sans de tels avantages. L'activité Group Retirement de l'entreprise sert actuellement plus de 1,2 million de clients avec diverses solutions de retraite, y compris des plans 401(k), 403(b) et 457(b).
Equitable, ein bedeutendes Finanzdienstleistungsunternehmen unter Equitable Holdings (NYSE: EQH), hat Equitable Retirement Access gestartet, einen neuen 401(k) Pool-Arbeitgeberplan (PEP), der sich an kleine und mittlere Unternehmen richtet. Diese Initiative schließt eine kritische Lücke in der Ruhestandsplanung, da über 40% der kleinen Unternehmen derzeit keine Ruhestandspläne anbieten, bedingt durch Kosten und administrative Belastungen.
Die PEP-Lösung, ermöglicht durch den SECURE Act von 2019, erlaubt es nicht verwandten Unternehmen, Ruhestandsfonds in einem einzigen Plan zu bündeln, der von einer dritten Partei verwaltet wird, wodurch administrative Aufgaben und das fiduziarische Risiko reduziert werden. Das Angebot ist über die Equitable Retirement Vision-Plattform verfügbar, wobei PlanConnect als Verwahrstelle fungiert und verschiedene spezialisierte Partner verschiedene administrative und fiduziarische Verantwortlichkeiten übernehmen.
Laut einer von Equitable in Auftrag gegebenen Umfrage glauben etwa 80% der Amerikaner, dass alle Arbeitgeber Ruhestandspläne bereitstellen sollten, wobei über 80% angeben, dass sie Stellenangebote ohne solche Leistungen ablehnen würden. Das Group Retirement-Geschäft des Unternehmens bedient derzeit mehr als 1,2 Millionen Kunden mit verschiedenen Ruhestandslösungen, darunter 401(k), 403(b) und 457(b) Pläne.
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New 401(k) offering is designed to expand access to workplace retirement plans for small and medium-sized businesses and their employees
PEPs are defined contribution plans that allow a group of unrelated businesses to pool their employees’ retirement funds into a single plan managed by a third-party provider. This helps to reduce administrative tasks, such as compliance and reporting, and provides protection from fiduciary risk. Introduced by the SECURE Act in 2019, PEPs are designed to help close the retirement income gap among
Through Equitable Retirement Access, small and medium-sized businesses will have a scalable and efficient way to provide their employees a high-quality workplace retirement plan. The offering enables employers to enhance plan governance, mitigate risk and reduce administrative burdens. There are also potential cost savings, especially for employers with more than 100 participants.
“Small businesses are an important growth engine for the
Most Americans consider it table stakes for employers to offer a retirement savings plan, according to an Equitable-commissioned consumer survey.3 Approximately
Equitable’s new 401(k) PEP offering is available through the Equitable Retirement Vision®platform.4 PlanConnect LLC, an affiliate of Equitable, serves as the recordkeeper for Equitable Retirement Access. Pension Plan Specialists will act as the pooled plan provider, third-party administrator and 3(16) administrative fiduciary. SWBC Retirement Plan Services will function as the 3(38) investment fiduciary, and Plan Notice LLC will handle notice delivery services.
Through its Group Retirement business, Equitable partners with school districts, municipalities, not-for-profit entities and small-to-medium-sized businesses to provide tax-deferred investment and retirement solutions, including 401(k), 403(b) and 457(b) plans for their employees. Equitable’s Group Retirement business has a nearly five-decade history of providing workplace retirement solutions to more than 1.2 million clients.
About Equitable:
Equitable, a principal franchise of Equitable Holdings, Inc. (NYSE: EQH), has been one of America’s leading financial services providers since 1859. With the mission to help clients secure their financial well-being, Equitable provides advice, protection and retirement strategies to individuals, families and small businesses. Equitable has more than 8,000 employees and Equitable Advisors financial professionals and serves 3 million clients across the country. Please visit equitable.com for more information.
Equitable is the brand name of the retirement and protection subsidiaries of Equitable Holdings, Inc., including Equitable Financial Life Insurance Company (Equitable Financial) (NY, NY), and Equitable Financial Life Insurance Company of America (Equitable America), an AZ stock company with an administrative office in
The Equitable Retirement AccessSM defined contribution program consists of a custodial account offered through Benefit Trust Company, as well as a group fixed annuity contract issued by Equitable Financial. Distributors: Equitable Distributors, LLC and Equitable Network, LLC (Equitable Network Insurance Agency of
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1 The Pew Charitable Trusts report, July 2024.
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3 Equitable consumer finance survey. Respondents included 1,000
4 Equitable Retirement Vision is an existing mutual fund-based retirement plan platform with a group fixed annuity contract issued by Equitable Financial Life Insurance Company.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250130818347/en/
Media:
Monique Freeman
(212) 314-2010
mediarelations@equitable.com
Source: Equitable
FAQ
What is Equitable's new PEP offering and how does it benefit small businesses?
How many small businesses currently lack retirement plans according to EQH's data?
What percentage of Americans would reject a job without a retirement plan?
Who are the key service providers for Equitable's new PEP offering?
How many clients does Equitable's Group Retirement business currently serve?
When was the PEP structure introduced through the SECURE Act?
