SPECIAL BENEFIT TO PASADENA CHAMBER MEMBERS: New Program Allows 401K Retirement Benefit Group Plans

FEDERAL LAW CHANGE MEANS SAVINGS FOR YOU, HIGHER BENEFITS FOR EMPLOYEES

The Multiple Employer Plan 401(k) Solution is now available through the Pasadena Chamber of Commerce

Effective August 1, 2020, the Pasadena Chamber of Commerce implemented a new program to benefit every Chamber Member. This new program is a Multiple Employer 401(k) Plan (MEP) that is sponsored, managed, and overseen by the Pasadena Chamber of Commerce. When the government passed the SECURE Act at the beginning of 2020 it allowed us all to benefit from banding together and leveraging economies of scale. In partnership with members Pasadena Private Wealth, Millennium Pension Services and Transamerica we have built a program that will allow you to provide a world-class retirement plan for your employees while saving thousands of dollars per year for your business. You can expect the following from this program:

• Easy to adopt
• Lower costs
• Available for small to mid-size companies in all industries
• Frees up valuable time to run your business
• Relieve yourself of the fiduciary responsibilities you face by outsourcing to professional 3(16) and 3(38) fiduciaries
• Best in Class institutional low-cost money managers like Vanguard, BlackRock, Fidelity & American Funds
• Customizable plan design options to recruit new and retain key employees
• Discounted Plan Audit fees through a preferred accounting partner
• Financial wellness for employees available in person or by appt (7am-7pm all time zones includes Spanish speaking advisors)
• BONUS:  Our 401k solution satisfies the CalSavers mandate