When Congress passed the legislation that included the Setting Every Community Up for Retirement Enhancement Act of 2019 (“SECURE Act”), it amended the Employee Retirement Income Security Act of 1974 (“ERISA”) and the Internal Revenue Code of 1986 (“Code”) to allow for a new retirement plan called a “pooled employer plan” (“PEP”). A PEP offers registered investment advisers (“Advisers”), broker-dealers, and other financial services providers the opportunity to offer a single plan to any number of employers who wish to join the PEP. As such, these assets can be pooled for purposes of providing retirement benefits, managing plan assets, and providing plan-related services. A pooled plan provider could have offered a PEP as early as January 1, 2021. At this point, Advisers and other financial services companies are trying to figure out the role they will play in offering PEPs and PEP-related services.

In this The Investment Lawyer column, “Pooled Employer Plans: Opportunities for Advisers,” Groom principal David Kaleda provides an update on the SECURE Act’s affect on PEPs. David also breaks down the potential effectiveness of PEPs and how registered investment advisers and financial service providers may better understand their current or potential role in the PEP marketplace.

Click here to read the article.


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