AFSA 401k Retirement Plan for Contractor Members
AFSA is now offering a 401(k) retirement plan for AFSA contractor members. This plan is sponsored by AFSA and managed through Transamerica Retirement Solutions and the firm of Pinnacle Financial Services. A Multiple Employer Plan, also referred to as an MEP, is a retirement plan for businesses that typically have a common interest, but that are not commonly owned or affiliated. These businesses are referred to as “Adopting Employers” when they elect to join the Multiple Employer Plan.
What are the Benefits?
- Potential costs savings
- Hours of Administrative time savings
- Reduction of work for your staff
- Shifting of plan responsibility
- Reduction of fiduciary liability
- No more plan audit (if applicable)
- No more plan document or legal filings
- Allows you to focus on your business
- Flexibility to maintain your own plan design and features
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