Unleashing the Power of the Target Advantage
    to Work for Your Goals

    "If you think it is expensive to hire a professional, wait until you hire an amateur." — Red Adair

    Welcome to Target Retirement Solutions, a leading professional financial services group with a remarkable legacy spanning over 60 years. 


    Discover the Pooled Plan Advantage

    Curious about what a pooled plan entails? Allow us to shed light on this innovative approach and explain how recent legislative advancements, such as the SECURE Act, have made them more accessible than ever before.

    A pooled plan, such as a Multiple Employer Aggregation Program (MEAP), is a retirement plan that allows multiple unrelated employers to join together and offer a single plan to their employees. It provides smaller businesses with an opportunity to access the benefits of a well-structured retirement plan without the burden of individual plan administration.

    The Setting Every Community Up for Retirement Enhancement (SECURE) Act, passed in 2019, introduced significant changes that make pooled plans more appealing and easier to offer. Here's how the SECURE Act has enhanced the landscape of pooled plans:

    1. Expanded Eligibility

    Previously, employers participating in a pooled plan had to share a common characteristic, such as belonging to the same industry or association. The SECURE Act removed this requirement, allowing unrelated employers from diverse sectors to come together and offer a pooled plan. This expansion in eligibility broadens the availability of pooled plans to a wider range of businesses.

    2. Fiduciary Safe Harbor

    The SECURE Act introduced a fiduciary safe harbor provision for employers participating in a pooled plan. This provision mitigates the fiduciary responsibility and liability typically associated with sponsoring a retirement plan. By joining a pooled plan, employers can delegate certain fiduciary duties to the plan administrator, relieving them of individual fiduciary burdens.

    3. Streamlined Administration

    The SECURE Act introduced provisions that streamline the administrative tasks and responsibilities of pooled plans. It allows for centralized reporting and filing, simplifying the process for employers. This alleviates the administrative burdens that often deter smaller businesses from offering retirement plans independently.

    4. Cost Efficiencies

    Pooled plans leverage economies of scale, combining the assets and participants from multiple employers. This consolidation allows for greater purchasing power and negotiating leverage, leading to potential cost savings in plan administration, investment management fees, and other related expenses. The SECURE Act's facilitation of pooled plans enables more businesses to access these cost efficiencies.

    By making pooled plans more accessible and reducing administrative complexities, the SECURE Act aims to encourage broader retirement plan adoption and improve retirement readiness for employees across various industries and organizations.

    At Target Retirement Solutions, we recognize the transformative potential of pooled plans and the advantages they bring to both employers and employees. With our knowledge and dedication, we can help navigate the intricacies of pooled plans and assist businesses in offering a robust and efficient retirement solution for their workforce.

    Passion and Commitment

    At Target Retirement Solutions, our team is driven by a passion for excellence and a deep understanding of the intricate world of financial services. We invite you to explore our "About Us" page to learn more about our organization, values, and the knowledge we bring to the table.