Press Release

Vestwell Expands Pooled and Multiple Employer Plan Solutions

Issued by Vestwell

June 22, 2023

Vestwell has expanded its pooled and multiple employer plan solutions. This includes a range of affordable 401(k) plan options for advisors to offer small and medium-sized business clients. These offerings expand Vestwell’s support for Group of Plans (GoPs) and launch new programs for Multiple Employer Plans (MEPs) and Pooled Employer Plans (PEPs).

The expansion builds on the success of advisors and channel partners embracing Vestwell to aggregate small and mid-sized retirement plans in order to create efficiency and scale. The firm provides a fully digital plan setup and onboarding process for advisors and third-party administrators (TPAs) to manage and scale multiple plans simultaneously.

Vestwell offers multiple employer retirement solutions of all types and sizes on a modern platform that delivers unparalleled financial technology and flexibility for retirement plan professionals, employers, and savers. The plan options are available to both existing and new 401(k) plans. Vestwell’s MEP offering is designed to support Professional Employer Organizations (PEOs), associations, franchises, and small business affiliates.

“We’re proud to expand our pooled and multiple employer plan solutions and offer advisors additional tools for serving the small plan market, delivering on the high level of inbound industry demand,” said Richard Tatum, President of Workplace Savings at Vestwell. “Our modern approach to plan capabilities, powered on our advanced technology platform, allows for the flexibility and experience in meeting their clients’ complex business needs.”

Vestwell's technology-forward solution to retirement plans enables advisors to support their small business clients looking for flexible features and simplified administrative procedures, with an extra layer of protection against fiduciary risks, providing compliance oversight typically only found in larger plans.

As a result of SECURE Act 2.0 legislation, multiple and pooled employer retirement plans, such as MEPs, GoPs, and PEPs, offer small businesses plans significant opportunities to expand retirement plan access to greater numbers of employers and employees.

“As nearly half of the American workforce does not have a retirement savings plan through their employer, there is a great opportunity ahead for advisors to support the implementation of workplace savings programs, especially for small businesses typically excluded from offering these benefits,” concluded Tatum.

Leading this expansion is Eli Landow, Divisional Vice President East and Institutional Sales along with Kevin Gaston, Director of Plan Design and Institutional Consulting. To learn more about Vestwell’s Pooled and Multiple Employer Plan solutions, visit: https://www.vestwell.com/pooled-plans.

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