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

NARFA plans allow for larger contributions and more flexibility
Lower costs for running the plan because of group efficiencies
Stronger bargaining power to negotiate better deals
Reduce administrative responsibilities
Full fiduciary coverage on investment and administration
Simple and full integrated retirement solution into your HR package
Access to experts who can help with managing the plan
Can be used for employee retention and recruitment
The more members that join, the better the pricing is for the group

**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 best administration
The best service
The best education
The best performance insight

THE SAVINGS FROM THE NARFA MEP ARE MORE THAN THE COST OF MEMBERSHIP IN NARFA!

TransAmerica is the “Recordkeeper”

All contributions are submitted to Transamerica.
Transamerica provides the platform and a wide variety of investment options.
Transamerica provides the Employee website, mobile app, call center, statements, and general education services.

Merrill Lynch Serves as the Financial Advisors

As an investment Fiduciary, they select and monitor the investments available in the NARFA MEP plan.
Merrill Lynch works hard to ensure quality investment options are available to all participants.
They also provide specific education & financial planning services to each adopting employer and the employees at each company

Compass is the 3(16) Fiduciary and Plan Administrator

Compass works behind the scenes to ensure the plan is operating in compliance with IRS and DOL rules, including completing the annual filings.
Compass also works with each employer joining the NARFA plan to help them custom design the best structure for them.

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.

MEMBER BENEFITS

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.

HOW

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: