The Phillips Group 401(k) Retirement Plan Exchange is a Complete, Cost-effective, Turnkey Retirement Solution.

Powered by TAG & Transamerica

The Phillips Group 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 The Exchange®

The Phillips Group 401(k) Retirement Plan Exchange® 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 law and Internal Revenue Service and Department of Labor regulations while striving to provide compliance assurance with those regulations in order to reduce fines and penalties.

5 Advantages with the Phillips Group 401(k) Retirement Plan Exchange®

5 Pooled Solution Advantages

ADMINISTRATIVE

THE OVER 90% ADVANTAGE WITH THE PHILLIPS GROUP 401(k) RETIREMENT PLAN EXCHANGE®

A major DIFFERENTIATOR of The Phillips Group 401(k) Retirement Plan Exchange® for you as a participating employer is the reduced administrative tasks you have to perform on your 401(K).

YOUR RESPONSIBILITIES WITHOUT THE PHILLIPS GROUP 401(k) RETIREMENT PLAN EXCHANGE®

YOUR RESPONSIBILITIES WITH THE PHILLIPS GROUP 401(k) RETIREMENT PLAN EXCHANGE®

  • [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
  1. Monitor Service Providers
  2. Upload Payroll Files
  3. Year-End Data Collection

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 allowed by law.

THE PHILLIPS GROUP TAKES ON OVER

OF THE RESPONSIBILITIES

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 Phillips Group 401(k) Retirement Plan Exchange® & TAG Resources, as named fiduciaries on your plan, will mitigate liability risk for you.

CORE

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 Liability

TAG delivers fiduciary liability protection at the highest level.

Work with Investment Professionals

Outsources investment selection responsibility to investment professionals

OTHER CAPABILITIES

Dentist and his assistant working with dental microscope

OVER TWENTY YEARS

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 PEP’s, 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 PMA 401(k) Retirement Plan Exchange® outsources the liability and compliance to TAG Resources to the highest extent. 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

Driving Participant Success

The participant experience is designed to help people understand if their savings and investment strategy is in line with their retirement goals. It starts with enrollment and continues with personalized communications and financial education showing participants how they can improve their retirement readiness.

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

Association
Association

The Phillips Group

The Phillips Group is a California-based accounting firm that helps dental and medical professionals achieve personal, professional, and financial growth.

Healthcare professionals know how complicated finances can be. That’s why our business, The Phillips Group, is focused on making your finances easier to understand. Our mission is to help you make sense of your finances so you can focus more on your patients and practice.

Website
Financial Advisor
Financial Advisor

Timothy McNeely

Tim McNeely is CEO and Founder of LifeStone Family Office.  Using a consultative wealth management approach, Tim helps affluent dentists address their five biggest concerns: preserving their wealth, tax mitigation, taking care of their heirs, ensuring their assets are not unjustly taken, and charitable gifting.

However, what matters most is Tim meeting his wife, Dana Yeoman D.D.S.  In the process of joining lives together, Tim saw that he could have a big impact on Dana’s business.  Seeing his wife’s frustration with the complexity of running a dental practice he set out to make things simple.  Since meeting his Dana, Tim has helped busy dentists and entrepreneurs make informed decisions about their money so they can spend more time focusing on what they love to do and less time worrying about their business.

CONTACT ADVISOR
Plan Administrator
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.

WEBSITE
Recordkeeper
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.

WEBSITE
INVESTMENT MANAGER
INVESTMENT MANAGER

Fiduciary-Plus

Fiduciary Plus is a named fiduciary to the plan, responsible for the investment selection, monitoring and ongoing due diligence of the funds in the investment menu in accordance with the Investment Policy Statement (IPS) for the Plan. RPA Financial helps business owners and plan committees manage fiduciary liability by accepting responsibility for investment decisions as an ERISA defined 3(38) discretionary investment manager and also offers clients cost analysis with annual fee benchmarking, plan governance educational webinars, and a fiduciary vault to support storage of vital documentation. RPA Financial as the 3(38) Investment Manager has over $12.6 billion in assets under advisement as of December 31, 2018.

WESBITE

Your Retirement Outlook:  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. All companies identified are separate and unaffiliated organizations.

©️2021 TAG Resources   ©️2021 Rev8lation Media

©2021 Transamerica