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pooled employer plan

Lutz Expands 401(k) services with pooled employer plan (pep) offering

Lutz Financial, an SEC Registered Investment Advisor and affiliate of business solutions firm Lutz, recently announced its partnership with Newport, an independent retirement services provider, to offer the Lutz Financial Pooled Employer Plan (PEP). 

Chris Wagner, Lutz Financial Director, said, “This retirement plan solution, made possible with the passing of the SECURE Act, enables employers of all sizes, industries, and locations to come together and adopt the benefits of one professionally managed retirement plan. Participating employers benefit through reduced administrative burdens, fiduciary risks, and lower overall retirement plan costs achieved through economies of scale. In addition, employees receive a modern, user-friendly experience and access to independent financial advisors. 

Employers are communicating the need to provide a competitive retirement plan to compete for talent without being an investment expert or dedicating internal staff to time-consuming plan administration. The Lutz Financial PEP meets these needs while allowing employers to maintain plan feature flexibility. Our clients have already seen great success implementing the PEP, and we are excited to be at the forefront of offering a pooled employer plan locally.”

Lutz selected Newport as a partner because of its extensive retirement plan capabilities, award-winning service and industry-leading technology. The company provides solutions tailored to the needs of employers of every size, from small businesses to the Fortune 1000. Newport’s retirement recordkeeping services support more than 39,000 plans and 1.5 million plan participants, representing over $150 billion in retirement assets under administration.

Learn more about Lutz’s Pooled Employer Plan services here: https://www.lutz.us/lutz-financial-services/pooled-employer-plan/ 

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