Simpler, Safer, More Cost Effective.
All three Chamber 401K platforms outsource plan administration and investment management.
More time for you to focus on your business.
Simpler, Safer, More Cost Effective.
All three Chamber 401K platforms outsource plan administration and investment management.
More time for you to focus on your business.
Simpler, Safer, More Cost Effective.
All three Chamber 401K platforms outsource plan administration and investment management.
More time for you to focus on your business.
Simpler, Safer, More Cost Effective.
All three Chamber 401K platforms outsource plan administration and investment management.
More time for you to focus on your business.
Simpler, Safer, More Cost Effective.
All three Chamber 401K platforms outsource plan administration and investment management.
More time for you to focus on your business.
Providing a retirement plan for your employees has never been easier.
Typically for established plans with less than 120 participants.
Multiple employers, ONE audit.
Take our assessment to determine how fiduciary outsourcing can benefit your plan.
Please fill in the form below to send us an email.
Our goal is to have your administrative staff spend less time managing a 401k plan and more time focusing on your core business activities.
Plan Advisor |
TPA 3(16) |
3(38) Fiduciary |
Record Keeper |
Participant Advisor |
WILLIAM ANDERSON,
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NICK GREENHOUSEFinancial Advisor Nick Greenhouse is a Registered Investment Advisor for Belpointe Wealth Management residing in Connecticut. He specializes in individual wealth management and retirement planning. Nick knows that there is no “one size fits all” solution to wealth management or retirement planning and is passionate about educating clients with unique solutions to meet each of his client's needs and goals.
Nick has passed his Series 65 securities examination and is a licensed CT , life, and health insurance producer. In his spare time, Nick enjoys hanging out with his family, golfing or skiing with friends, and cooking delicious things. Nick aspires to educate his local community and clients on financial wellness. |
PAUL SALAMONCPFA Paul has been in financial services for 27 years with offices located in Cheshire & Greenwich CT, supporting Belpointe team member Advisors throughout the country.
As a Fiduciary plan consultant Paul provides independent, fee-based services that put clients’ interests above all else, always supporting ERISA plan sponsor Fiduciaries to act in the best interest of plan participants and their beneficiaries. Paul focuses on the unique needs of each corporate client, meeting them wherever they are in terms of their knowledge and experience of ERISA, driven by keeping the clients on a “Fiduciary Continuum” of growth Areas of Concentration: |
Our small business solution is exactly what it sounds like. Belpointe has designed a 401k plan to be cost effective and efficient for Small Business.
There are 2 partners involved in managing this small business solution. Belpointe LLC (3(38) investment monitoring and plan advisor) and 401kGO (record keeping, administrator, TPA, 3(16))
This plan was designed to be efficient and cost effective for companies looking to start up a 401k as well as smaller companies that already have retirement plans.
There are only 3 fiduciary responsibilities left for the individual business owners under this plan
Yes you must be a member of a participating chamber to join this plan.
Yes you can keep your current advisor as the participant advisor for your company if you choose to do so. Your advisor must also be a member of a Connecticut Chamber of Commerce.
This plan was designed for previously established plans who are looking for a more transparent/cost efficient model, who are interested in reducing administrative responsibilities/fiduciary risk.
There are multiple partners involved in managing this MEP. Belpointe acts as the 3(38) investment manager and plan advisor. We use an independent record keeper and custodian, an independent TPA/3(16) service provider, as well as a participant adviser who can differ from employer to employer.
The mid sized aggregation plan was designed to provide a custom, flexible plan design. It capitalizes on the benefits of fiduciary outsourcing, without an MEP structure. This plan is designed as a single employer plan with individual IRS 5500 filing per employer.
This plan was designed for companies with existing plans, who are approaching the eligible participant limit, to require an annual financial audit (this audit is a limited scope financial audit, NOT a full IRS audit).
The Connecticut Chamber’s Multiple Employer Plan is a multiple employer plan designed exclusively for Connecticut Chamber of Commerce members across the state.
A multiple employer plan is a 401k plan that allows unrelated employers to aggregate plan assets to participate in economies of scale and to obtain the benefits of acting like a larger plan.
A major benefit to an MEP is that it reduces the fiduciary liability for the individual company plan sponsor. It does this by outsourcing administrative responsibilities, employee eligibility tracking, distribution processing, plan compliance, nondiscrimination testing, annual reporting and participant enrollment to a TPA (third party administrator) who specializes in these tasks. The TPA 316 also prepares and signs the form 5500. Along with reducing risk, this reduces the workload for a company’s HR professional saving them time to focus on other priorities.
There are multiple partners involved in managing this MEP. Belpointe acts as the 3(38) investment manager and plan advisor. We use an independent record keeper and custodian, an independent TPA/3(16) service provider, as well as a participant adviser who can differ from employer to employer.
The MEP reduces fiduciary liability for the individual company plan sponsor by outsourcing administrative responsibilities, employee eligibility tracking, distribution processing, plan compliance, nondiscrimination testing, annual reporting and participant enrollment to a TPA (third party administrator) who specializes in these tasks. The TPA also prepares and signs the form 5500 as the plan sponsor. Along with reducing risk, this reduces the workload for a company’s HR professional saving them time to focus on other priorities.
Typically the MEP structure allows employers to reduce administrative fees, advisory fees and in some cases investment fees. Each employer has a unique situation, so Belpointe will do a comparison of our plan’s fee structure with your current 401k fee structure to see if our MEP is a good fit for your company.
There are only 3 fiduciary responsibilities for the individual business owners who join the Chamber MEP
Our fee structure is flexible. The fees from service providers are a combination of flat fees, per head fees, and assets under management (AUM) fees. These fees can be paid from the assets of the plan, as a corporate billable or a combination of the two.
Yes, There are three levels of 3(16) administrative services available:
The recordkeeper’s responsibilities include allocating the assets of your plan to participant accounts, executing participant trades, maintaining contribution records, providing internet access to accounts, and providing statements at least on a quarterly basis.
The 3(38) advisor has discretion to make investment decisions and model allocations. This allows the plan sponsor to reduce liability, as they offload fiduciary risk for investments decision making to the advisor; however, employers retain a fiduciary duty to choose a good 3(38) and monitor performance of the advisor.
Yes, you must be a member of an adopting chamber of commerce to participate in the MEP
Yes you can keep your current advisor as the participant advisor for your company if you choose to do so. Your advisor must also be a member of a Connecticut Chamber of Commerce.
If a member’s chamber fees lapse, the member will be contacted to see if they wish to maintain membership. If the employer no longer wishes to be a chamber member, their plan will be removed from the MEP with proper notice and Belpointe will advise on the stand alone 401k plan. However all plan fees and the fee structure are likely to change.
| Call today for a consultation. 1-866-401k-MEP | Schedule an Appointment |
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