401K Program

The AGC of Kentucky Members 401(k) Retirement Plan

A strong retirement benefit program can help businesses of all sizes gain a competitive edge to attract and retain talent — but it can also mean added costs and responsibility. A multiple employer plan (MEP) may be an attractive option for businesses seeking to ease the administrative burden, fiduciary risk, and expense of offering a quality retirement plan.

WHAT IS A MEP?

A MEP is a retirement plan sponsored by one entity for unrelated organizations that share a common business interest.

How it works?

• MEP sponsor is the “lead” plan and generally the plan administrator and fiduciary

• “Adopting employers” can elect to join the MEP

• These plans can be defined contribution (DC) or defined benefit (DB) plans

• At any time, adopting employers are easily integrated into the plan hosted by the sponsor and tracked on the Transamerica platform

Member Benefits

The key to outstanding support for this MEP starts with Transamerica’s sophisticated recordkeeping platform. Our ability to track adopting employers using one contract allows you to enjoy the following benefits:

• Flexible plan features (safe harbor, Roth, etc.) and customizable plan design (eligibility, matching contribution formula, and more)

• Reporting data for each employer based on your unique employee base

• No individual annual audit or individual Form 5500 filing

• Potential cost savings through pooled assets compared to operating a single employer plan

• Dedicated website for adopting employers to gauge plan performance and participant engagement

• Dedicated participant website with tools and resources designed to help brighten retirement outcomes

LET US HANDLE THE ADMINISTRATION

By participating in the The AGC of Kentucky Members 401(k) Retirement Plan, many administrative tasks can be taken off your plate, including:

• Employee eligibility tracking

• Distribution processing

• Plan compliance

• Nondiscrimination testing

• Annual reporting

• Investment selection and monitoring

• Approve/deny loan and hardship requests

• Distribute mandatory communications/notices

• Participant enrollment/education

TRANSAMERICA — AN INDUSTRY LEADER YOU CAN TRUST

When you combine our unwavering commitment and passion with our deep experience and resources, it’s clear why Transamerica is the premier recordkeeping partner for pooled plans and beyond.