The NJBA 401(k) Retirement Plan Exchange

A Cost Effective Pooled-Plan Solution

Put Retirement Within Reach

The New Jersey Builders Association is committed to offering high-quality workplace benefits designed to improve the well-being of our members and their employees. We believe all employees deserve access to a quality retirement savings program that can help them enjoy a healthier, more secure future. 84% of workers say that retirement plan benefits offered by a prospective employer will be a major factor in their decision whether to accept an offer.**

Yet concerns about cost and administrative difficulties may keep you from offering a plan. Through our partnership with Transamerica, TAG and Costello Financial, your employees can enjoy a workplace retirement plan that can help you gain a competitive edge as you compete for talent.

Three Potential Benefits

How the Exchange Works

Pricing and Fund Lineup

ADMINISTRATION

When you join the New Jersey Builders Association Retirement Plan Exchange, most administrative tasks are handled by an independent third party who also acts as a fiduciary. You can focus on your business, while they handle tracking, reporting, compliance, testing, and many other day-to-day plan activities.

TAX ADVANTAGES

Certain qualified defined contribution plans allow employer contributions to be deducted as a business expense.*

POTENTIAL COST SAVINGS

By joining the NJBA Program, you benefit from the economies of scale enjoyed by large businesses. Pooling client assets can create cost savings, which are passed on to you and your employees.

Contact Grant Lucking grant@njba.org, (609) 570-2157, to get started today.

* ”401(k) Plan Overview,” Internal Revenue Service (irs.gov)

** Living in the COVID-19 Pandemic: The Health, Finances, and Retirement Prospects of Four Generations,” nonprofit Transamerica Center for Retirement Studies, August 2021

Before adopting any plan you should carefully consider all of the benefits, risks, and costs associated with a plan. Information regarding retirement plans is general and is not intended as legal or tax advice. Retirement plans are complex, and the federal and state laws or regulations on which they are based vary for each type of plan and are subject to change. In addition, some products, investment vehicles, and services may not be available or appropriate in all workplace retirement plans. Plan sponsors and plan administrators may wish to seek the advice of legal counsel or a tax professional to address their specific situations.

The Retirement Plan Exchange®/Group Plan Solution is not a multiple employer plan (MEP). Unlike a MEP, certain plan qualification and ERISA requirements are applied at the individual plan level. An employer participating in the plan retains certain fiduciary responsibilities, including responsibility for retaining and monitoring the 3(16) plan administrator, for determining the reasonableness of its fees, and for periodically reviewing the plan as a whole. Transamerica does not act as a 3(16) plan fiduciary.

Logos and trademarks are the intellectual property of their respective owners. All Transamerica companies identified are affiliated, but are not affiliated with any other organization referenced.

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