HARRISBURG, Pa., Jan. 10, 2022 /PRNewswire-PRWeb/ -- Conrad Siegel, delivering comprehensive employee benefits and investment advisory services, today announced the launch of Central PA 401(k), by Conrad Siegel, the first Central Pa.-based pooled employer plan (PEP).
The SECURE Act, which became law on Jan. 1, 2020, created a new type of 401(k) called pooled employer plans and paved the way for Pooled Plan Providers to begin offering PEPs in 2021. These plans allow multiple small employers of any industry to join one single retirement plan rather than having to each start their own plan.
"It can be hard for small businesses to attract and retain good employees without a benefits package, especially in today's competitive staffing environment," said Trevor Bare, FSA, Partner and Consulting Actuary at Conrad Siegel. "But, starting a 401(k) can be expensive and time consuming for small businesses, putting it out of reach for most. Our new pooled employer plan enables businesses with under 70 employees to offer a 401(k) that is simple, flexible, affordable, and most importantly can help them compete for top talent. Conrad Siegel also serves as a fiduciary, meaning we will always act in the best interest of plan participants."
Central PA 401(k) is a turnkey retirement plan that is fully managed by Conrad Siegel. The plan is designed for small business budgets and is hands-off for business owners. Conrad Siegel handles the plan administration, recordkeeping, investment advisement, investment education, obtaining ERISA bond coverage and fiduciary oversight.
Additionally, the plan allows for employees to save in a variety of ways. Saving under the plan can be optional for employees and employers may choose their preferred level of employer contribution. Contribution options include safe harbor matching and profit sharing, and employees may make either traditional pre-tax or Roth contributions.
"Central PA 401(k) is designed with the small business owner in mind," said Jim Kehr, CRSP, Director of Business Development at Conrad Siegel. "We've heard from so many local employers that they are stretched thin and have so many roles to fill that managing a retirement plan is not always feasible. Our pooled employer plan simplifies the process for business owners and provides a benefit to their employees."
Employees enrolled in Central PA 401(k) will receive online and personalized investment education to help them reach retirement goals and build a secure, comfortable future for themselves.
For more information on Central PA 401(k), by Conrad Siegel, visit centralpa401k.com.
About Conrad Siegel
Conrad Siegel is an employee benefit and investment advisory firm headquartered in Harrisburg, Pa. that provides customized retirement, healthcare benefit and investment planning solutions for businesses and individuals. The firm offers unbiased, fee-based services backed by careful attention to detail. Its investment advisors are independent of any financial institution and do not receive commissions, positioning them to make recommendations in their clients' best interests. Conrad Siegel partners with its clients to serve as a comprehensive source for all employee benefit and investment advisory needs. For more information, please visit http://www.conradsiegel.com.
Investment Advisory Disclosure
All investment advisory services are provided through Conrad Siegel Investment Advisors, Inc., a fee-for- service investment adviser registered with the U.S. Securities and Exchange Commission serving as a fiduciary for its clients. Investing in securities involves the potential for gains and the risk of loss. Past performance may not be indicative of future results. Any testimonials do not refer, directly or indirectly, to Conrad Siegel Investment Advisors, Inc., or its investment advice, analysis or other advisory services.
Media Contact
Amanda Mantiply, Abel Communications for Conrad Siegel, 443-961-2418, [email protected]
SOURCE Conrad Siegel
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