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 The Legacy Group, Inc. 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 401(k) 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 401(k) should never be undersold.
This is not a scare tactic, it's a fact! 67.2% of company's 401(k)s 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 401(k)s 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)s 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 99% of plan administration duties, you don't need to have the cost of an employee or department focused on retirement plan 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.
With over 100 years of combined financial industry experience we are dedicated to providing investment management and strategic wealth planning. Simply put, we strive to be our client’s trusted advisor. As a financial advisory firm, our primary focus is to provide unbiased opinions that are designed to achieve long term investment results.We are dedicated to providing investment management and strategic wealth planning. Simply put, we strive to be our client’s trusted advisor. As a financial advisory firm, our primary focus is to provide unbiased opinions that are designed to achieve long term investment results. The Legacy Group does this with the highest levels of trust, integrity and respect while always collaborating using a team approach. We are dedicated to professionally supporting, educating, and providing informed direction to each and every client.
Neil Esterson, CPFA
The Legacy Group
4 Reservoir Circle Suite 103
Pikesville, MD 21208
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 over $226 billion in assets as of December 2018, possessing more than 80 years of experience. Transamerica provides innovative retirement plan services and solutions.
Mesirow Financial is an independent, employee owned firm founded in 1937 with 600 employees working from 18 locations around the globe. We focus exclusively on clients. As a privately held company with $326 million in capital*, our clients receive independent, objective advice that’s tailored to their specific needs. As a pioneer in outsourced, third party fiduciary services, Mesirow Financial has been supporting plan sponsors since 2006. The firm has over 32.7 billion in assets under management* and $30.8 billion in assets under advisement*.
*as of 6/30/2018