As of December 31, 2022
THE POWER OF CHOICE AT YOUR FINGERTIPS
WHAT IS IT?
Technology Association Of Iowa Choice Pooled Solutions ℠
POWERED BY TRANSAMERICA AND TAG RESOURCES
Technology Association Of Iowa Choice Pooled Solutions℠ powered by Transamerica and TAG Resources revolutionizes retirement planning in the industry, providing a comprehensive array of pooled solution that gives clients various options. Whatever size business you have, Technology Association Of Iowa Choice Pooled Solutions℠ offers plans tailored to uniquely meet your needs while providing competitive pricing that generally goes hand-in-hand with large-scale setups.
The flexibility to meet your needs
Technology Association of Iowa Choice Pooled Solutions℠ product is unique because it consists of two plan configurations: Retirement Plan Exchange® and Choice Pooled Employer Plan ℠.
COMPARING YOUR OPTIONS
FLIP ME
RETIREMENT PLAN EXCHANGE®
Retirement Plan Exchange® allows individual sponsors to select from a menu of cost-effective options to build a single employer retirement plan and configure a support team.
RETIREMENT PLAN EXCHANGE®
*Individual plan sponsors choose from a menu of cost-effective options to build a retirement plan
*TAG prepares, signs, and files the 5500 on behalf of the company
*Typically, best suited for smaller businesses and organizations
*TAG prepares, signs, and files the 5500 on behalf of the company
*Typically, best suited for smaller businesses and organizations
FLIP ME
CHOICE POOLED EMPLOYER PLAN ℠
Choice Pooled Employer Plan℠ treats the plans of multiple unrelated employers as one large plan and allows employers to choose from two cost-effective investment platform options.
CHOICE POOLED EMPLOYER PLAN ℠
*Treats multiple plans as one large plan
*Sponsored by a Pooled Plan Provider (PPP)
*PPP handles administration and oversight
*Files one combined Form 5500 for the PEP
*Large plans benefit from reduced audit costs
*Your choice of 3(38) investment managers
*Sponsored by a Pooled Plan Provider (PPP)
*PPP handles administration and oversight
*Files one combined Form 5500 for the PEP
*Large plans benefit from reduced audit costs
*Your choice of 3(38) investment managers
The technology association of iowa Choice Pooled Solutions℠ takes on over 90% of your Administrative Responsibilities
YOUR RESPONSIBILITIES WITHOUT The Technology association of iowa Choice Pooled Solutions ℠
• 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 and
coverage testing
• Annual fee negotiations
with vendors
• Audit completion support
• Audit firm hiring and
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
• ERISA bond review
• Error correction monitoring
• Fiduciary insurance
coverage review
• Force out processing
• Form 5330 preparation
• Form 5500 preparation,
signing, and filing
• Form 8955 preparation,
signing, and filing
• Fund change notice distribution
• Hardship withdrawal approval
• Loan approval and reporting
• Loan default monitoring
• Loan policy administration
• Lost earnings calculations
• Participant enrollment assistance
• Payroll aggregation
• Payroll file aggregation
• Plan design review
• Plan design review
• Plan document interpretation
• Plan document preparation
and archiving
• Plan irregularity notification
• QDIA notice distribution
• QDRO determinations and
reporting
• Quarterly investment
review meetings
• Rate change monitoring
and reporting
• Required minimum distributions
• Safe harbor notice distribution
• SAR production and distribution
• SMM notice distribution
• SPD production and distribution
• Spousal consent approvals
• Termination date verification
and maintenance
• Termination withdrawal approval
• Trustee duties
• Review and submit payroll files
• Vesting verification and tracking
• Year-end data collection and review
VS
YOUR RESPONSIBILITIES WITH Technology association of iowa choice pooled solutions ℠
TAKES ON OVER
OF FIDUCIARY RESPONSIBILITIES
- Year-End Data Collection
- Upload Payroll Files
- Monitor Service Providers
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.
LET US MAKE YOUR JOB EASIER
Improve accuracy, save time and effort
SIMPLIFIED PAYROLL AND RECORDKEEPING
PayStart provides a service for qualifying clients that allows contribution data to be sent directly from the payroll vendor to Transamerica, eliminating the need for the plan sponsor to create and manipulate a separate file. This can help your organization:
SAVE TIME
Transfer of participant compensation, contribution, and other data to Transamerica happens automatically and securely
REDUCE COSTS
Payroll uploads and deferral changes are no longer timeconsuming tasks, allowing for more efficiency
IMPROVE ACCURACY
Automated integration reduces opportunities for compliance issues and can save your staff time from dealing with errors
ENHANCE PRODUCTIVITY
With automation, staff can recover their time and focus on other important matters
THE BEDROCK REPORTING SYSTEM™
TAG RESOURCES PROPRIETARY SOFTWARE
With data gathered from contribution files from the plan sponsor and recordkeeper, TAG can match employees with specifics provided in the plan document to determine eligibility and verify participant information. In addition, the system captures rate changes, new loans, and hardship withdrawals and monitors contributions and distributions to ensure compliance with plan documents and [401(k)/403(b)] limits. Every step in the process is time-stamped, so the complete data cycle is monitored. The system allows TAG to monitor operational health and catch minor errors before exposing the plan to compliance violations.
The bottom line:
Employers can focus on their business rather than running a retirement plan
ADVANTAGES & CORE BENEFITS
The Advantages of The Technology Association of iowa partners Choice Pooled Solutions ℠
Compliant
Employers don’t want fines or penalties. TAG Resources' processes are developed to administer plans to be DOL and IRS compliant.
Well Known Providers
Employers want to work with industry leaders. Technology Association of Iowa combines industry-leading professional service providers for “end-to-end” retirement plan oversight, including robust tools and resources for employees.
Make It Simple
Employers don’t want to be 401(k)/403(b) experts. TAG Resources oversees plan set-up, implementation, monitoring, enrollment, and other duties.
Fiduciary Protection
Employers don’t want to be at risk. By shifting administrative and certain named fiduciary duties to TAG Re, employers can mitigate the most defined legal obligations and responsibilities.
Cost Effective
Employers don’t want to overpay. Technology Association Of Iowa is built on a pooled pricing model and often costs less than other programs offering fewer comprehensive services.
A DEDICATED TEAM BEHIND Technology Association of iowa Choice Pooled Solutions ℠
MEET THE TEAM
FINANCIAL ADVISOR
Lee Bissmeyer
Financial professionals use the Exchange as a means to assist you in reducing plan administrative duties and risks at a cost that is competitive. Working with a Financial Professional offer services that help increase participation, help with enrollment meetings and education, provide regular plan reviews, and suggest potential plan enhancements. Financial Professionals understand that “life happens”. Whether you’re close to retirement or just starting out, we can help with a financial review that’s tailored to fit your needs now and going forward. Our dedicated Financial Professionals are located in your area and will meet with you face to face where your business and employees need them the most.
Contact
FINANCIAL ADVISOR
Chris Thomas
Financial professionals use the Exchange as a means to assist you in reducing plan administrative duties and risks at a cost that is competitive. Working with a Financial Professional offer services that help increase participation, help with enrollment meetings and education, provide regular plan reviews, and suggest potential plan enhancements. Financial Professionals understand that “life happens”. Whether you’re close to retirement or just starting out, we can help with a financial review that’s tailored to fit your needs now and going forward. Our dedicated Financial Professionals are located in your area and will meet with you face to face where your business and employees need them the most.
Contact
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
PLAN ADMINISTRATOR TYPE 3(16) & 402(a)
TAG RESOURCES
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
Fiduciary-Plus
Fiduciary-Plus was created to partner with advisors as we strive to provide best in class services to plan sponsors and their plan participants. Fiduciary-Plus helps a business owner / plan committee manage fiduciary liability by engaging RPA to accept responsibility for investment decisions as an ERISA defined 3(21)* or 3(38) discretionary investment manager. But the services don’t stop there. Fiduciary-Plus also offers your clients: cost analysis with annual fee benchmarking, plan governance education webinars, and fiduciary vault to support storage of vital documentation.
Website
PPP
Smart Retire
Smart Retirement Solutions, Inc (SRS) is a subsidiary of Smart, a global savings and investments technology provider. Its mission is to transform retirement, savings, and financial well-being, across all generations, around the world. Smart, founded in the UK, operates in the USA, Europe, Australia, and the Middle East with over a million savers and over $5 billion in assets.
SRS has a history of fiduciary oversight internationally. SRS’s global parent company has managed the Smart Pension Master Trust in the UK since 2015, a structure very similar to a PEP. The Board of Trustees of the Master Trust is the UK equivalent of the PPP. The Board selects, monitors, and oversees the service providers to the plan and is accountable to the Pensions Regulator.
Website
DRIVING PARTICIPANT SUCCESS
At any time, employers are easily integrated, enrolled, and tracked in the Transamerica platform.
PARTICIPANT EXPERIENCE
Transamerica equips participants with a comprehensive retirement experience that grants insights into their financial future. Powered by Morningstar’s sophisticated methodology, the Your Retirement Outlook® app simplifies complex investments and guides participants toward achieving their personalized income goals in retirement. Using simple weather icons, the app shows participants if their current investment strategy is likely to produce the income they’re seeking in retirement.
CONTACT US
Technology Association OF Iowa
Contact Us
Let Us Tell You More. Contact Us Now.
bissmeyer.lee@principal.com
Phone
545-246-4954
TRANSAMERICA PYRAMID LOGO, RETIREMENT PLAN EXCHANGE, and YOUR RETIREMENT OUTLOOK are all service marks of Transamerica Corporation. Securities offered through Transamerica Investors Securities Corporation (TISC), member FINRA, 440 Mamaroneck Avenue, Harrison, NY 10528. TAG Resources, Inc., is a wholly owned subsidiary of Transamerica, but there are no other affiliations between the two and any other organization referenced.
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 Choice Pooled Solution℠ is not a traditional multiple employer plan (MEP). Unlike a traditional MEP, certain plan qualification and ERISA requirements are applied at the individual plan/participating employer level. Pooled employer plans (PEPs) are a new type of multiple employer plan for which the Department of Labor (DOL) and IRS guidance is still pending in a number of areas. An employer participating in the plan retains certain fiduciary responsibilities, including responsibility for selecting and monitoring the 3(16) plan administrator as well as the Pooled Plan Provider (PPP), for determining the reasonableness of service providers’ fees, and for periodically reviewing the plan as a whole. Among other responsibilities, the PPP acts as the 3(16) plan fiduciary (or delegates another entity to serve in such capacity). Transamerica does not act as a 3(16) plan fiduciary.
The Retirement Plan Exchange®/Group 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.
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