What to consider
Comparing the Chicagoland Chamber PEP to the Illinois Secure Choice Roth IRA.
Who is Mesirow...
Mesirow Retirement Advisory Services provides retirement plan services to corporations, municipalities and nonprofit organizations nationwide. We help plan sponsors and employers manage fiduciary risk, provide strategic plan consulting, perform qualitative and quantitative investment monitoring on plan assets and develop solutions to assist employees in saving for retirement.
Mesirow takes on the fiduciary risk
Mesirow offers a well-rounded support program designed to take the administrative burden off the employer.
Fiduciary services - ERISA focused experts take the helm, allowing the adopting employer’s professionals to do what they do best. We assume responsibility for all fiduciary functions that are allowed by the SECURE Act.
Trustee and custodial services - Newport Trust Company will perform all required trustee functions for the PEP including overseeing contributions to and distributions from plan assets.
Mesirow manages the work for you
Recordkeeping and administrative services - Whether you are starting a plan or converting an individual plan to the PEP, we ensure a smooth transition. We take care of onboarding, plan participant transactions as well as plan compliance and reporting.
Adopting employer support services - We provide you with the tools and support teams needed to succeed. The compliance team ensures the PEP’s plan documents stay up-to-date. Your onboarding team will support you as you join the PEP. Your assigned client service manager will coordinate all your day-to-day plan interactions.
Participant support services - We empower participants to take control of their financial future through our wellness program called myFinancial Future. With customized advisor managed accounts, education, group meetings and the ability to talk one-on-one with a financial planner, participants can plan for what’s ahead.
How a PEP plan works
A PEP program allows individual qualified retirement plans to pool assets together in the same retirement plan, providing benefits such as reduced plan expenses and reduced fiduciary liabilities.*