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A pooled employer plan (PEP) is a 401 (k) retirement plan that allows unrelated businesses to participate in one plan managed by a pooled plan provider (PPP).
- Pensions and Retirement
Organizations can influence employee financial wellbeing and...
- Pooled Employer Plans (PEP)
A pooled employer plan (PEP) is a 401 (k) retirement plan...
- Aon-Pooled Employer Plans-Article
Today, U.S. employers sponsor over 500,000 individual 401(k)...
- Pensions and Retirement
Organizations can influence employee financial wellbeing and improve overall workforce resilience by offering retirement and health benefits, support in obtaining retirement income, tailored financial education and planning and guidance on achieving non-retirement savings goals.
The new PEP stems from the Setting Every Community Up for Retirement Enhancement (SECURE) Act provision allowing employers to join forces to create higher-performing, more efficient 401 (k) plans. Aon’s PEP will relieve employers of many fiduciary duties they have today.
Jun 24, 2020 · The new PEP stems from the Setting Every Community Up for Retirement Enhancement (SECURE) Act provision allowing employers to join forces to create higher performing, more efficient 401(k) plans. Aon's PEP will relieve employers of many fiduciary duties they have today.
- What Is A Pooled Employer Plan?
- What Is The Secure Act? and Who Can Join A Pep?
- What Are The Benefits of A Pep?
- How Does The Aon Pep Work?
- What Are Clients Saying About Aon’s Pep?
A pooled employer plan (PEP) is a 401(k) retirement plan that allows unrelated businesses to participate in one plan managed by a pooled plan provider (PPP). The PPP is the fiduciary of the PEP and has discretion over plan administration and investments, which can reduce the administrative burden and risks for participating companies. Streamlining ...
The SECURE Act, formally known as the Setting Every Community Up for Retirement Enhancement Act, allowed PEPs to enter the market in 2021. Before this law, employers could only join together under a multiple employer plan (MEP) if they had some commonality with other participants (e.g., similar industry or geography). Essentially, the SECURE Act br...
There are plenty of good reasons to consider a PEP for your organization, including: Overall, joining a PEP will allow your team to focus more energy on building a resilient workforcewhile shifting key administrative tasks to your provider, including:
The Aon PEP is designed for companies with at least 100 employees participating in the 401(k) plan. In our PEP model, Aon operates as the pooled plan provider (PPP) and named fiduciary. This means we are responsible for all plan operation and compliance and oversee and monitor all related service providers. Key elements of our model include:
Watch our Q&A with Munu Gandhi, President & COO of ITsavvy, for a business’ firsthand account of why they decided to go with a pooled employer plan, what the process was like for their organization and how the Aon PEP helped.
Today, U.S. employers sponsor over 500,000 individual 401(k) plans that can be complicated, risky, and costly to manage. The SECURE Act now allows employers from all industries and sizes to band together to create a new type of retirement plan: pooled employer plan (PEP).
Oct 12, 2022 · Aon Pooled Employer Plan Reaches $1 Billion in U.S. Plan Assets and Commitments. Firm cuts participant fees in half, leading to higher employee retirement savings and lower costs for employers. Leaders urge Congress to pass legislation to allow 403 (b)programs into PEPs.
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