Pooled employer plans making splash as more firms dip toes into the water

Pooled employer plans making splash as more firms dip toes into the water

Several major retirement plan service providers are diving into the pooled employer plan market with high hopes that small and midsize employers will jump in, too.

Pooled employers plans, or PEPs, were established under the Setting Every Community Up for Retirement Enhancement Act last year and go live Jan. 1. PEPs make it easier for employers in unrelated businesses to join a collective or pooled retirement plan for their workforces, with the intention that companies will be able to reduce administrative burdens and lower retirement plan costs through economies of scale as well as attract employers that currently do not offer plans.

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About Smart

Smart is 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 partners with financial institutions (including broker-dealers, RIAs, retirement providers, insurers, asset managers, banks) and financial advisers to deliver retirement savings and income solutions that are digital, customized, and cost-efficient.

Smart, founded in the UK, operates in the USA, Europe, Australia and the Middle East with close to a million savers entrusting over $3 billion** in assets on the platform. Smart supports its clients with a 650 strong global team and saw over 2,000%* growth in assets on its platform since 2018.

Legal & General, J.P. Morgan, the Link Group, Barclays, Natixis Investment Managers, Chrysalis Investments, and DWS Group are all investors to date in Smart.

For more information, please visit www.smartretire.com

Media Contact for Smart:

Jacqueline Silva
Caliber Corporate Advisers for Smart
Jacqueline@calibercorporate.com