West Metro Chamber of Commerce 401(k) Retirement Plan Exchange® Solution
West Metro Chamber of Commerce 401(k)
Retirement Plan Exchange® is a Complete, Cost-effective, Turnkey Retirement Solution.
West Metro Chamber of Commerce 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?
The West Metro Chamber of Commerce 401(k) Retirement Plan Exchange® is powered by The TAG & Transamerica 401(k) Retirement Plan Exchange® Solution 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 West Metro Chamber of Commerce 401(k) Retirement Plan Exchange®
TAG oversees plan set-up, implementation, monitoring, enrollment, and other duties.
The over 90% Advantage with The West Metro Chamber of Commerce 401(k) Retirement Plan Exchange®
A major DIFFERENTIATOR of the West Metro Chamber of Commerce 401(k) Retirement Plan Exchange® Solution for you as a participating employer is the reduced administrative tasks you have to perform on your 401(k).
YOUR RESPONSIBILITIES WITHOUT The West Metro Chamber of Commerce 401(k) Retirement Plan Exchange®
YOUR RESPONSIBILITIES WITH The West Metro Chamber of Commerce 401(k) Retirement Plan Exchange®
West Metro Chamber of Commerce 401(k) TAKES ON OVER
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 West Metro Chamber of Commerce 401(k) Retirement Plan Exchange® and TAG Resources, as named fiduciaries on your plan, will mitigate this risk for you.
Takes pressure off your internal administrative resources and allows you to use those resources elsewhere
Provides access to service providers with ERISA and investment expertise
TAG delivers fiduciary protection at the highest level
Outsources investment selection responsibility to investment professionals
Over Twenty Years
Experience Over Enthusiasm
Retirement plan providers are currently struggling to deal with pooled structures. Many are enthusiastically working with pooled plans, such 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 West Metro Chamber of Commerce 401(k) Retirement Plan Exchange® 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.
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.
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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