At The Association of Union Constructors (TAUC), our mission is to deliver real value to our member contractors — and that includes offering select benefits and resources that can better position them for success. That's why we're excited to announce the new TAUC Group 401(k) Program exclusively for TAUC members.
What Is A Group 401(k) Program?
The TAUC Group 401(k) Program helps contractors manage the complicated administrative tasks involved with operating their companies' retirement plans.
When a contractor joins the Program — typically at a competitive group rate — many of the day-to-day tasks involved in running a retirement plan are handed over to third parties, like administrative and investment fiduciaries.
In other words, contractors get the benefit of offering a 401(k) to employees without having to own all of the work, responsibility and liability.
And if you're a TAUC Local Employer Organization (LEO) member, we have great news: you can offer the TAUC Group 401(k) Program to your members as well — even if they aren't a member of TAUC!
And watch this informative two-minute video to learn the basics about Group 401(k) programs:
Who Runs the Program?
The Merrill Lynch Wealth Management Team, led by Roger Feldman and Chris Hicks, has extensive experience working with union contractors and has partnered with a network of diverse and committed third-party providers to offer competitive recordkeeping and plan administrative services to best serve your retirement plan needs.
Together, Merrill Lynch, Lincoln and The Retirement Advantage (TRA) are here from initial consultation, implementation and through post-conversion support to assist TAUC members and plan participants with running a customized and efficient retirement plan.
Why is Now a Good Time to Consider a Group 401(k) Program?
As you may already know, the IRS and DOL require retirement plan sponsors to "restate" their plans every six years. This involves amending your plan document in its entirety and incorporating any legal or procedural changes that have been adopted since the last restatement. The deadline for the next restatement is July 31, 2022.
Restatement is a complex and time-consuming process — the paperwork alone can be overwhelming. The good news is that if you join the TAUC Group 401(k) Program, TRA will conduct a thorough review of your plan, offer suggestions on how to strengthen it and take care of the entire restatement process free of charge.
Deeper Dive: Watch Our Webinar on the TAUC 401(k) Program
Is It the Right Fit For Your Company?
We understand that moving to a new 401(k) program is a big decision and you have many important questions that need to be answered. We've created two informative sites — one for TAUC Member Contractors and one for TAUC LEOs. Just click on the appropriate button below to get started!
Prefer to talk to someone instead? Reach out to TAUC Group Program Liaison and Merrill Lynch Financial Advisor Roger Feldman at (800) 281-1246 or email him at email@example.com.
DISCLAIMER: While TAUC is pleased to offer this Group 401(k) Program as a member benefit, information provided to members by Merrill Lynch Wealth Management, Lincoln Financial Group and The Retirement Advantage (collectively, the "Program Administrators") has not been developed by TAUC, and TAUC does not independently evaluate or verify the accuracy or completeness of any information provided to members regarding these products and services. TAUC does not oversee the Group 401(k) Program, and disclaims and makes no guaranty or warranty, express or implied, as to the accuracy or completeness of any information provided by the Program Administrators, and disclaims and makes no warranty that their products and services will meet any particular member's needs.
Members should rely on their own independent judgment in determining whether products and services offered by the Program Administrators will meet their needs or, as appropriate, seek the advice of a competent professional. TAUC specifically disclaims liability for any damages or loss of any nature whatsoever, including, but not limited to, special, indirect, consequential or compensatory damages, directly or indirectly resulting from the use of products or services provided by the Program Administrators.