HELPING EMPLOYERS REDUCE COSTS, ATTRACT TALENT, AND RETAIN THEIR CURRENT WORKFORCE
The Schuylkill Chamber of Commerce has made the Schuylkill Chamber of Commerce 401K Pooled Employer Plan (PEP) available to members. The program is a robust retirement solution designed to address cost efficiencies, simplify administration, and reduce fiduciary burden.
The Schuylkill Chamber of Commerce’s intent in offering this program to our members is to provide another tool for our members’ to add to their employee benefits offerings to enhance employee recruitment and retention in a cost-efficient and fiscally responsible manner. Through plan design review and education, members can determine if this program aligns with their workforce development strategies.
In today’s competitive talent market, it is more important than ever for businesses to offer a competitive benefits package, including employer-sponsored retirement plans, to attract and retain top talent.
Through the benefit of group purchasing power, employers who join a PEP can offer a qualified retirement plan for their employees, with fewer administrative and fiduciary responsibilities than a traditional plan. This enables business owners to offer this important benefit without needing to take their focus away from their day-to-day work of running their business.
Businesses may be eligible to claim a tax credit of up to $5,000, for three years, for the ordinary and necessary costs of starting a qualified plan.
For more information, contact Samantha Chivinski, executive vice president, Schuylkill Chamber of Commerce at schivinski@schuylkillchamber.com or call 570-622-1942.
Before adopting any plan, sponsors 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.
sponsors and plan administrators may wish to seek the advice of legal counsel or a tax professional to address their specific situations.
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