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These are all valid concerns—but the fact is this:
401(k)s take a lot of up-keep.
As a result, they take a lot of employee hours, which more often than not costs you as an employer more money. With FACES and TAG Resources at the helm of your retirement plan, you can stay on top of your business, knowing that the day-to-day responsibilities of your plan are being looked after.
Every Retirement Plan has to take governmental compliance seriously.
TAG administered plans are consistently compliant, so IRS and DOL audits are a breeze. No TAG administered program has ever failed a DOL audit.
The responsibility of a retirement plan should never be undersold.
This is not a scare tactic, it's a fact! 67.2% of company's retirement plans that are audited by the Department of Labor fail the audit. Since the DOL's concern for retirement plans, above all else, is that the plan is being run for the benefit of the employees, any failings in plan administration can end up being an extremely costly problem.
Most retirement plans place the Fiduciary Responsibility, and by extension, risk, solely on the Plan Sponsor — meaning YOU!
Many providers in the retirement plan market say they offer "Fiduciary Liability Protection" in their marketing material, but in a court of law they flatly refuse any liability. TAG, in the course of plan administration, is listed as the Named Fiduciary on your plan - meaning that with the TAG Program, you are protected to the highest degree in the industry.
TAG's Plans are built on an "aggregated" model. This model combines multiple employer's 401(k) plans together under a single "End to End" retirement program. Every employer in the plan benefits from this aggregation in the form of enhanced services and lowered costs. Employers receive services that most providers don't offer - and because the services are being offered to many at once, TAG's plan costs are the same or lower than those providers.
Due to our industry-leading 3(16) fiduciary liability protection, your risk of loss of personal wealth resulting from fiduciary liability action is greatly reduced.
Because TAG fulfills 95% of plan administration duties, you don't need to have the cost of an employee or department focused on 401(k) administration. Your employees can stay focused on moving your business forward.
Because we keep your plan consistently compliant, you will not be subject to fines and penalties resulting from IRS and DOL audits.
Faces HCM looks at human resources through a different lens. HR shouldn't be a cost of doing business - it should be a revenue producer. When your employees are empowered, treated well, and feel committed to their company, there is less turn over, more productivity, and a healthier culture.
Faces HCM provide these services to underserved markets such as the Growing Industry and any business owner who strives for a customized, transparent, and flexible option for all their administrative and human resource needs.
Sharkey, Howes, Javer
720 S Colorado Blvd - Suite 600 South
Denver, CO 80246
TAG Resources ensures your plan reaps long-term rewards with easier day-to-day operations. As the largest end-to-end retirement plan provider in the US, TAG is recognized nationally for pioneering unique Retirement Programs. The Multiple Employer Program™ is our newest innovation, bundling retirement plans together in a service model previously only available for very large companies.
The bottom line is that for every plan, TAG acts as your Retirement Plan Department so you don't have to be an expert. We're the buffer between you and the Department of Labor/IRS to keep you compliant, we provide fiduciary liability protection, and our program is priced competitively with plans that do not provide these valuable services.
The results are easy to see: every plan gets A-List Oversight. There is no company more capable of crafting retirement plans that meet the needs of today's businesses than TAG.
Transamerica is an industry-leading Record Keeper with more than $245 Billion in assets serviced, possessing more than 75 years of experience. Transamerica provides innovative retirement plan services and solutions, with an Investment Lineup selected by professional Investment Managers.
ERS is a majority owned subsidiary of Envestnet, Inc. (NYSE: ENV),
which has over $1.1 trillion of assets under management, administration, and licensing arrangements.
Envestnet is a strategic partner to more than 55,000 advisors, and supports more than 5.8 million investor accounts under management,
administration, and licensing arrangements. Combining technology, research, and experienced staff, ERS provides fiduciary solutions to
more than 13,000 retirement savings plans with $30.64 billion in assets.
~September 30, 2017