TAUC Group 401(k) Program Information for Contractors

February 17 2021

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What’s In It For The Contractor?

The TAUC Group 401(k) Program is designed to take advantage of the power of the group. But what does that mean for you — and how does that compare to a plan you may already offer to employees?

In a group program, many of the tasks that come with running a retirement plan — ones you’d typically handle on your own by sponsoring an individual plan — are gathered to be managed by a third party on behalf of the businesses that join:

• Administrative duties
• Operational tasks
• Fiduciary responsibilities

Joining the TAUC Group 401(k) program and taking much of the work off your plate has twofold advantages:

• It gives you all the benefits of offering a retirement plan without having to own all the responsibility
• It helps put time back in your day and frees up you and your people to spend that time where it counts: focused on your business

A 401(k) Program Focused On YOUR Needs

When it comes to the benefits and services you offer your employees, only you know the level of support and plan management that’s right for your company. And whatever that level is, you expect–and deserve–high quality.

Joining the TAUC Group 401(k) program doesn’t mean you give up the kind of service you need. You’ll experience the benefits of a group structure with personalized service that puts you first and helping you meet your goals, on your terms.

The Program’s flexible service model means you get to decide the level of support and guidance you need. Maybe you want to maintain a certain level of control and oversight. Or you may want to hand off many of the details. Either way, you can expect a strategy and tailored plan design that represent your goals and your people–delivered by a support network that:

• Ensures the plan follows all the rules and regulations associated with sponsoring a retirement plan
• Manages the day-to-day details and overall strategy
• Explores opportunities for improvement in performance and cost savings

The People Behind the Plan

Switching providers or starting a retirement plan are big moves, so the importance of feeling good about what you’ll get — and who you’ll get it from — can’t be overstated. And it shows: Retirement plan sponsors who haven’t changed recordkeepers in the past five years say the overall relationship is the most compelling reason they stay.

When you join the TAUC Group 401(k) Program, a team of experts from Merrill Lynch, Lincoln and The Retirement Advantage (TRA) will be there from initial consultation, implementation and through post-conversion support to assist TAUC members and plan participants with running a customized and efficient retirement plan. Here’s what they’ll do to show they’re a provider worth sticking with:

• Make your goals theirs
• Take time to understand your objectives, work through your challenges and find solutions that encourage the best possible outcomes  —  for your company and your employees
• Proactively collaborate with financial professionals, third party administrators and others to put their combined expertise to work for the plan on your behalf
• Deliver the level of service, guidance and expertise that helps prove you and your employees come first — even in a group structure

A best-fit retirement plan can be a benefit that inspires loyalty, respect and satisfaction among employees. Offer them a plan from a company that people like working with–vetted by peers, professionals and businesses like yours — and you help encourage those good feelings.

The Next Step: 15 Minutes

Ready to learn more? Schedule 15 minutes with TAUC Group Program Liaison and UBS Financial Advisor Roger Feldman at 410-576-3035 or email him at roger.feldman@ubs.com. Roger can discuss how the TAUC Group 401(k) program can make a difference for your business and employees.

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.