866.315.1463 info@tagresources.com
The Power of the

Workforce Management Agency Retirement Solution

PEO MEP Enhancement Program

An Innovative Retirement Program powered by TAG Resources

After a comprehensive search and due diligence, Workforce Management Agency has partnered with well-known retirement industry providers to offer the Workforce Management Agency Retirement Solution PEO MEP Enhancement Program, powered by TAG Resources, LLC, the largest “end to end” 401(k) provider in the United States.

The Workforce Management Agency Retirement Solution PEO MEP Enhancement Program is a solution for businesses that allows you to offer a retirement plan to your employees, while reducing your administrative burden, transferring fiduciary risks, and potentially reducing costs. Sponsoring and maintaining a retirement plan can be challenging. The Workforce Management Agency Retirement Solution PEO MEP Enhancement Program brings together a team of professionals on your behalf so you can focus on running your business, not your retirement plan. When you offer a plan through the Workforce Management Agency Retirement Solution PEO MEP Enhancement Program you leverage the assets of all the plans in the TAG Program and utilize the best professionals in the retirement field to run your plan.

The PEO MEP Enhancement Program provides:
  • Reduced administrative burdens for your plan.
  • Potential cost savings through economies of scale.
  • Outsourced fiduciary liability to the greatest degree allowed by law to help mitigate fiduciary risk.
  • A robust investment menu.
  • Award-winning1 participant educational tools and resources to help your employees attain the retirement readiness they deserve.
  • A team of experts to support the compliance and management of your plan.
What are the potential cost savings?

TAG has negotiated a significant cost savings for companies that are subject to an annual audit. The PEO MEP will receive a comprehensive audit with limited company involvement and time commitment.

What fiduciary support will I receive?

The fiduciary support you will receive from the Workforce Management Agency Retirement Solution PEO MEP Enhancement Program combines all of the components of a sound process – an investment policy statement, investment lineup assistance, investment selection and monitoring, ongoing reporting, payroll integration and more.

As the employer, you can delegate your fiduciary responsibilities to the greatest degree allowed by law, and have peace-of-mind that your fiduciary obligations are being met.

The fiduciary responsibility to complete administrative duties to keep the plan running and in compliance, is managed by TAG Resources who serves as an ERISA 402(a) Named Fiduciary and the ERISA 3(16) Plan Administrator.

The fiduciary responsibility to select and monitor the plan’s investments is managed by Mercer, LLC, the investment firm who serves as the ERISA 3(38) Investment Manager.

In a time of increasing government oversight and compliance, these are significant benefits to
your business.

What administrative support will the PEO receive?

Underestimating the administrative hours required to properly operate a 401(k) retirement plan is a common mistake. By participating in the Workforce Management Agency Retirement Solution PEO MEP Enhancement Program, you are relieved of a significant number of tasks including, but not limited to:

  • Form 5500 filing
  • Nondiscrimination testing
  • Investment of plan contributions
  • Tracking contribution limits
  • Tracking catch-up contributions
  • Required communications
  • Approvals and denials of hardship requests
  • Distribution processing
  • Monitoring of pending legislative actions
  • Merger and acquisition support
What plan design options are available?

The Workforce Management Agency Retirement Solution PEO MEP Enhancement Program allows each participating employer to take advantage of many plan design alternatives. You retain control of vesting, eligibility requirements, matching contributions, profit sharing, automatic enrollment, and general plan design.

How can I learn more or get started?
If you would like more information about becoming a participating employer in the Workforce Management Agency Retirement Solution PEO MEP Enhancement Program, please contact us at:
Sergio Rosa
Morgan Stanley Wealth Management
55 East 52nd Street, 28th Floor
New York, NY 10055
212-883-8530

sergio.rosa@morganstanley.com

Morgan Stanley Retirement Planning for Specialized Solutions, helping you create a better future for your employees through Workforce Management Agency.

Recordkeeper

Plan Administrator and Fiduciary

Investment Manager


Transamerica Retirement Solutions is prohibited by law from providing tax or legal advice outside the company. The information contained in this article is intended solely to provide general summary information and is not intended to serve as legal or tax advice applicable to certain matters or situations. For legal or tax advice concerning your situation, please consult your attorney or professional tax advisor. Although care has been taken in preparing this material and presenting it accurately, Transamerica disclaims any express or implied warranty as to the accuracy of any material contained herein and any liability with respect to it. 1Transamerica Retirement Solutions was awarded 47 “Best in Class” Cups in the under $5 million to $1 billion markets in PLANSPONSOR® magazine’s 2013 Defined Contribution Survey for sponsor and participant services. The complete results of the Defined Contribution Survey were announced in the November 2013 issue of PLANSPONSOR® magazine. The survey polled 5,306 clients. “Best in Class” awards are given to the three highest scoring providers in each area of service and any other providers with scores that exceed the benchmark score established for a given asset range. Mercer is a leading global provider of investment services to clients with over 40 years of fiduciary experience. Mercer has invested heavily to build four market-leading research boutiques, each focused on a category of strategies: equities, bonds, alternatives and real estate. Mercer has more than 110 globally located manager research professionals, many of whom have hands-on fund management experience, an investment staff of 1,300 investment and over $100 billion as the named investment manager (ERISA 3(38).

 

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