By Dennis B. Pellegrini, GRCA Team of Experts for Financial Advising & Retirement Planning
It is time to review your 401(k) plan, and since you are a member of the Greater Reading Chamber (GRCA), let’s talk about a plan that will help you and your company.
A MEAP is a Multiple Employer 401(k) Aggregation Program.
This program (MEAP) is a solution we believe can help your company reduce your fiduciary and administrative responsibilities while delivering an effective and competitive 401(k) benefit for your employees.
What are the benefits of joining a MEAP?
Because every business owner says the same thing: They want a retirement plan solution that is easy, protects you and is cost competitive.
How does it make it easy for your business?
Business owners such as yourself want to focus on business and not have to be the 401(k) expert. MEAP is the solution as it becomes your 401(k)-department helping to perform most of the administrative tasks for your plan, including handling the regular contribution files.
How does it protect you?
Simple. You don’t have to be at risk of paying fines or penalties. By joining a MEAP, your company can avoid many of the compliance concerns that come with offering your own plan. Your role as fiduciary is still there but you do not have to worry about some of the other tasks as you transition to the program. Your ongoing role is to oversee the various parties dedicated to the plan to ensure it operates as expected.
Is it cost competitive?
You do not want to overpay, and you shouldn’t have to. MEAP delivers more value and services-potentially at similar or less cost than you are already paying. As the plans grow, it is reviewed regularly for price reductions. Whether you have a plan or would like to begin a new one, contact us for an no obligation evaluation of your options.
Dennis B. Pellegrini has been in the financial industry since 1991. He graduated from Central Catholic as well as Alvernia University where he earned a B.A. in Management & Administration and Bank & Finance.
Dennis is a Chartered Financial Consultant, an Accredited Estate Planner and completed his master’s degree in financial services from the American College in 2007. Dennis was the Chapter President of the Society of Financial Awareness and appeared on BCTV as well as WEEU speaking on the topics of financial planning and real estate investments. He is dedicated to helping Reading area residents achieve their financial dreams.
Dennis and his lovely wife Peggy live in Muhlenberg Township. In his spare time, Dennis loves to cook and play his guitar.
Advisory Services offered through Blackridge Asset Management, LLC, a Registered Investment Adviser. Securities are offered through Peak Brokerage Services, LLC, Member FINRA/SIPC. Blackridge Asset Management, LLC and (DBA name if applicable) are separate and independent entities from Peak Brokerage Services, LLC.
All GRCA members have access to the Team of Experts. Request a free 30-minute consultation with either Dennis B. Pellegrini or another expert.
If you are interested in joining the GRCA Team of Experts, please contact Jackie Stiles, Director of Membership at JStiles@GreaterReading.org.