The [Program Name][401(k)/403(b)]
Retirement Plan Exchange® is a Complete, Cost-effective, Turnkey Retirement Solution.
POWERED BY TAG & TRANSAMERICA
[Program Name] [401(k)/403(b)] has partnered with TAG & Transamerica to help employers spend more time running their business, not their retirement plan. TAG’s design handles administrative duties, reduces your risk, and is cost-effective.
What Is It?
[PROGRAM NAME] [401(k)/403(B)] is powered by The TAG & Transamerica 401(k) Retirement Plan Exchange® platform. It is based on sound structural elements that have been developed over the last 20 years, reviewed, and successfully tested to accept fiduciary responsibilities specified by ERISA, the Internal Revenue Code, and Department of Labor regulations while striving to provide compliance assurance with those regulations in order to reduce fines and penalties.
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Advantages
5 Advantages with the [Program Name][401(k)/403(B)] Retirement Plan Exchange®
Employers don’t want to be 401(k)/403(b) experts.
TAG oversees plan set-up, implementation, monitoring, enrollment, and other duties.
Employers don’t want to be at risk.
By shifting administrative and certain named fiduciary duties to TAG Resources, employers can mitigate the most defined legal obligations and responsibilities.
Employers don’t want fines or penalties.
TAG Resources processes are developed to administer plans to be DOL and IRS compliant.
Employers don’t want to overpay.
The [PROGRAM NAME] [401(k)/403(b)] is built on a pooled pricing model and often costs less than other programs offering fewer comprehensive services.
Employers want to work with industry leaders.
The [PROGRAM NAME] [401(k)/403(b)] combines industry-leading professional service providers for “end to end” retirement plan oversight, including robust tools and resources for employees.
Administrative
Responsibilities
The 90% Advantage with The [Program Name] [401(k)/403(b)] Retirement Plan Exchange®
A major DIFFERENTIATOR of the [Program Name] [401(k)/403(b)] for you as a participating employer is the reduced administrative tasks you have to perform on your [401(k)/403(b)].
YOUR RESPONSIBILITIES WITHOUT The [Progam Name][401(k)/403(B)]
- [3(38) Investment Manager Appointment]
- 402(g) Limit Reporting
- 404(a)(5) Notice Distribution
- 404(c) Notice Distribution
- 408(b)(2) Notice Distribution
- Annual Discrimination &
Coverage Testing - Annual Fee Negotiations
With Vendors - Audit Completion Support
- Audit Firm Hiring & Monitoring
- Auto Enrollment Notice Distribution
- Beneficiary Designation Form Maintenance
- Beneficiary Determinations
- Blackout Notice Distribution
- Census Review
- Corrective Distributions
- Death Benefit Approval
- Distribution Reporting
- DOL and IRS Issue
Resolution Assistance - Eligibility Calculations
- Eligibility Notifications
- Employer Contribution Monitoring
- Plan Document Preparation
- ERISA Bond Review
- Error Correction Monitoring
- Fiduciary Insurance
Coverage Review - Force Out Processing
- Form 5330 Preparation
- Form 5500 Preparation,
Signing, & Filing - Form 8955 Preparation,
Signing, & Filing - Fund Change Notice Distribution
- Hardship Withdrawal Approval
- Loan Approval & Reporting
- Loan Default Monitoring
- Loan Policy Administration
- Lost Earnings Calculations
- Participant Enrollment Assistance
- Payroll Aggregation
- Payroll File Aggregation
- Plan Design Review
- Plan Document Preparation
& Archiving - Plan Irregularity Notification
- QDIA Notice Distribution
- QDRO Determinations
& Reporting - Quarterly Investment
Review Meetings - Rate Change Monitoring
& Reporting - Required Minimum Distributions
- Safe Harbor Notice Distribution
- SAR Production & Distribution
- SMM Notice Distribution
- SPD Production & Distribution
- Spousal Consent Approvals
- Termination Date Verification
& Maintenance - Termination Withdrawal Approval
- Trustee Duties
- Review & Process Payroll Files
- Vesting Verification & Tracking
- Year End Data Collection
& Review
VS
YOUR RESPONSIBILITIES WITH The [Progam Name][401(k)/403(B)]
- Year-End Data Collection
- Upload Payroll Files
- Monitor Service Providers
90% OF THE RESPONSIBILITIES
An employer who sponsors a retirement plan for their employees has overriding fiduciary responsibility for the plan. This solution allows the employer to outsource that responsibility to the highest degree.
DEPARTMENT OF LABOR AUDITS CAN BE COSTLY FOR YOUR BUSINESS!
The IRS penalty for late filing of a 5500-series return is $25 per day, up to a maximum of $15,000. The DOL penalty for late filing can run up to $1,100 per day, with no maximum.
The [Program Name] [401(k)/403(b)] and TAG Resources, as named fiduciaries on your plan, will mitigate this risk for you.
Core
Benefits
Removes Pressure
Takes pressure off your internal administrative resources and allows you to use those resources elsewhere
ERISA Support
Provides access to service providers with ERISA and investment expertise
Fiduciary Responsibility
TAG delivers fiduciary protection at the highest level
Work with Investment Professionals
Outsources investment selection responsibility to investment professionals
Over Twenty Years
Of Experience
Experience Over Enthusiasm
Retirement plan providers are currently struggling to deal with pooled structures. Many are enthusiastically working with pooled plans, such as pooled employer plans (PEPs), for the first time. TAG Resources and Transamerica have been the innovators in pooled structures for over 20 years. TAG’s experience has helped them understand how to structure the plan to get the best savings and protection available to you.
TAG & Transamerica have a proven track record of working together to understand employers’ needs and effectively meeting those needs.
Additionally, retirement plans carry significant fiduciary liability and government compliance exposure for employers. The [Program Name] [401(k)/403(b)] outsources most fiduciary responsibilities and compliance to TAG Resources to the highest extent available. While most retirement plans do not offer this level of fiduciary and compliance assistance, TAG works as your retirement department by becoming a Signatory Named Fiduciary on your retirement plan.
Participant
Experience
Driving Participant Success
An easy-to-understand forecast generated by the underlying methodology provided by Morningstar. Using simple weather icons, it shows participants if their current investment strategy is likely to produce the income they’re seeking in retirement and offers steps to improve their chances of achieving their goals. Your Retirement Outlook® is featured prominently on the participant website, mobile app, and quarterly statements.
Key
Partnerships
[Program Name]
[Program Description]
This the description of the company or association we are co-branding with.
Plan Administrator
TAG Resources
TAG Resources is the Plan Administrator and a Named Fiduciary, as defined under ERISA sections 402(a), 3(16), and 3(21). It is our job to perform all functions necessary to keep your plan compliant.
As such, TAG Resources is responsible for the day-to-day operations of your plan. The functions we perform on your behalf include: the signing and filing of the Form 5500, QDRO determinations, service of legal process related to the plan, plan operations, participant claims and appeals, distributions, beneficiary determinations, including any related extensions to the plan.
Recordkeeper
Transamerica
Transamerica is an industry leading recordkeeper with over 20 years of experience with pooled arrangements. Their time-tested recordkeeping technology offers a proven infrastructure allowing for pooled arrangements, ensuring a plan will be administered successfully and accurately for the plan participant’s transition to retirement.
Investment Manager
Cetera
You bring the dreams, we’ll make the strategy. At Cetera, we’re invested in your overall well-being, not just your finances. We understand how independent financial guidance can help you pursue more of what matters to you. Our retirement plan philosophy: Deliver world-class services and industry-leading products and strategies to companies seeking professional help with their employer sponsored retirement plan. For more information, reach out to us at 844-881-PLAN.
[Financial Advisor]
Offering a retirement plan and selecting the providers to run the retirement plan is a fiduciary decision. The Financial Advisor plays a key role in helping you with the due diligence process and documentation of that process. Financial Advisors that offer the [Program Name] [401(k)/403(b)] are in tune with the complexity and liability of running a retirement plan. Advisors that use the TAG Program look to reduce the administration duties and risk to you to the greatest degree possible, and at a cost that is competitive. In addition, many advisors offer services that will help increase participation, help with enrollment meetings, provide investment guidance and education for the plan participants, provide plan reviews on a regular basis, and suggest potential plan-design enhancements.
Important: The projections or other information generated by the engine (which produces Your Retirement Outlook®) regarding the likelihood of various investment outcomes are hypothetical, do not reflect actual investment results, and are not guarantees of future results. Results derived from the tool may vary with each use and over time.
The Retirement Plan Exchange® plan solution is not a multiple employer plan (MEP). Unlike a MEP, certain plan qualification and ERISA requirements are applied at the individual plan level. An employer participating in the plan retains certain fiduciary responsibilities, including responsibility for retaining and monitoring the 3(16) plan administrator, for determining the reasonableness of its fees, and for periodically reviewing the plan as a whole. Transamerica does not act as a 3(16) plan fiduciary.
Securities offered through Transamerica Investors Securities Corporation (TISC), member FINRA, 440 Mamaroneck Avenue, Harrison, NY 10528.
The Pyramid logo, Retirement Plan Exchange®, OnTrack®, Your Retirement Outlook® and Brighten Your Outlook® are registered service marks of Transamerica. TAG Resources, Inc., is a wholly owned subsidiary of Transamerica, but there are no other affiliations between the two and any other organization referenced.
©️2023 TAG Resources ©️2022 Rev8lation Media
©2023 Transamerica Corporation
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