The Benefits of NARFA MEP for Your Employees
Maximized Contributions: NARFA MEPs are designed for larger contributions, offering you more flexibility in your retirement planning.
Group Efficiency Savings: Lower your plan running costs due to our collective bargaining power.
Reduced Administrative Burden: We handle the legwork, so you can focus on your core business activities.
Complete Fiduciary Coverage: Full investment and administrative fiduciary coverage.
HR Integration: Seamlessly integrate your MEP into your existing HR package.
Industry Expert Consultation: Access to experts specialized in retirement plans and association health plans.
We will also do a FREE analysis to make sure you are 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!
MEP Savings That Count
The cost-saving benefits from our MEP significantly outweigh the membership costs in NARFA, providing both short-term and long-term financial advantages.
Recordkeeping by TransAmerica
Financial Advisory by Merrill Lynch
3(16) Fiduciary and Plan Administration by Compass
Member-Exclusive Benefits
No Annual Audits: Save on time and resources.
Investment Cost Savings: Reduced costs on your investment choices.
Streamlined Reporting: No need for individual Form 5500 reporting.
Minimal Maintenance: Low upkeep thanks to a flexible plan structure including safe harbor, Roth, and profit-sharing options.
How NARFA MEP Works
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 hundreds 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 Do the Paperwork
By joining NARFA’s Retirement Savings Plan, you delegate most of the administrative tasks 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
- This frees up valuable time for you to focus on your business operations
Fiduciary Education Series for Plan Sponsors
Enhance your fiduciary knowledge and skills with our newly introduced educational series specifically designed for plan sponsors.
Administrative Support for Regulatory Compliance
Streamlined Payroll Management for Time and Cost Efficiency
Discover how NARFA’s MEP saves you time and expenses by meticulously maintaining your employee payroll data, ensuring accuracy and compliance.
Accelerated Transaction Processes for Loans and Distributions
Learn how our MEP reduces the turnaround time for participant transactions such as loans and distributions, enhancing your operational efficiency.
Hassle-Free Annual Audits for Financial Peace of Mind
Understand how NARFA manages your annual independent audit, saving you both valuable time and money while ensuring compliance and accuracy.
Transparent Employee Communication for a Seamless Plan Experience
Explore how NARFA notifies your employees about their eligibility, key plan amendments, and other crucial information, thereby simplifying your employee plan communications.
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.