Retirement: Do You Have a Plan?
The NARFA Multiple Employer Pension Plan (MEP) is a great offering that saves you time and money
The Value of the NARFA MEP
**Joining the NARFA MEP does not mean that you lose individual choice. An Employer joining the plan can still choose their plan eligibility for new hires, the type of match they offer, and more. Our team of experts will work with each company to properly design their individual plan inside the NARFA MEP.**
We will also do a FREE analysis to make sure you’re getting:
THE SAVINGS FROM THE NARFA MEP ARE MORE THAN THE COST OF MEMBERSHIP IN NARFA!
TransAmerica is the “Recordkeeper”
Merrill Lynch Serves as the Financial Advisors
Compass is the 3(16) Fiduciary and Plan Administrator
By joining the NARFA Retirement Savings Plan you are able to provide a powerful retirement plan, help save money, and spend less time administering it.
- No annual audit.
- Cost savings on the investments.
- No individual Form 5500 reporting.
- Minimal plan maintenance.
- Flexible plan features, including safe harbor, Roth, and profit sharing.
- Customizable 401(k) plan design options involving eligibility, matches, vesting schedules, and more.
The NARFA Retirement Savings Plan, from a government reporting standpoint, is treated like one large plan. The end result for you is a 401(k) plan with competitive investments, outstanding service, and someone else doing a majority of the plan maintenance legwork.
STRENGTH IN NUMBERS
With 500+ members in our association, we bring a large, powerful group to one unified plan. When you utilize the NARFA Retirement Savings Plan, you have all the advantages and flexibility of a stand-alone plan sponsor, but avoid the expenses and administrative burden associated with sponsoring a single employer plan.
LET US HANDLE THE PAPERWORK FOR YOU
By participating in the NARFA Retirement Savings Plan, virtually all administrative tasks can be offloaded from you to Merrill Lynch and NARFA.
Tasks that can be shifted may include:
- Administrative responsibilities.
- Employee eligibility tracking.
- Distribution processing.
- Plan compliance.
- Nondiscrimination testing.
- Annual reporting.
- Participant enrollment/education.
The result is more time for you to focus on running your business.
ADMINISTRATIVE SUPPORT SO YOU CAN HANDLE WHAT MATTERS
As a business, you can work with National Automotive, Roads, and Fuel Association to ease the burden of administering your retirement plan and receive support to help meet required regulatory obligations. The following table illustrates the responsibilities that could be handled by NARFA and Transamerica when you adopt a multiple employer plan (MEP).
LEAVE THE ADMINISTRATIVE CHALLENGES TO US
NARFA has joined with Transamerica, a leading retirement plan provider, to offer you a retirement plan with great benefits, including:
Saving you time and expense by maintaining your employee payroll data.
Reducing turnaround time for participant transactions such as loans and distributions.
Managing the annual independent audit, saving you both time and money.
Notifying employees of their eligibility, key plan amendments, and information that helps you maintain employee plan communication.