Press Release

Strive Announces New 401(k) PEP Retirement Plan for Small-to-Mid-Sized Businesses

Issued by Strive

Jan. 11, 2024

COLUMBUS, Ohio -- Strive Asset Management ("Strive"), a leading provider of shareholder-focused investment solutions, has announced a new pooled employer retirement plan. In partnership with Ameritas retirement plans, the Strive Pooled Employer Plan ("Strive PEP") allows employers to offer a customized 401(k) plan specific to their company's needs while allowing their employees to enjoy Strive's investment philosophy of prioritizing shareholder value maximization.

As states increasingly pass legislation mandating that businesses provide retirement benefits — in a landscape where only one third of small businesses currently offer a retirement solution — the Strive PEP emerges as an alternative to proposed state-sponsored plans and more costly traditional single employer 401(k) plans, giving businesses small and large a solution that is unapologetically pro-fiduciary and competitive with plans offered by large corporations. Pooled employer plans ("PEPs") unite multiple unrelated employers under a single retirement plan to achieve administrative, operational, and cost efficiencies at scale while enabling employers to minimize both financial and legal liability.

"Ameritas is proud to partner with Strive to offer an efficient 401(k) solution tailored to the needs of small-to-mid-sized businesses," said Jim Kais, executive vice president, Ameritas retirement plans. "We believe this market is severely underserved and the Strive PEP will help improve access to 401(k) benefits for countless new plan participants." 

"America is in a savings and retirement crisis," said Matt Cole, Strive CEO & CIO. "The average American only has a little over $100,000 in their 401(k) accounts. Currently, most workers can't select an asset manager committed to shareholder primacy in their 401(k) program, and that ultimately costs the hardworking everyday American who is trying to save for retirement. Asset managers pursuing stakeholder capitalism across corporate America with the retirement savings of everyday citizens is not just a fiduciary duty issue, it's also something this country can't afford."

In addition to Ameritas, who brings over two decades of pooled plan arrangement management, the Strive PEP is supported by retirement industry service providers. FiduciaryxChange — a set of services offered by AmericanTCS Fiduciary services LLC — will be serving as the pooled plan provider, while Traphagen CPAs and Wealth Advisors — a financial services leader for over 50 years — will serve as the plan's 3(38) investment fiduciary.

For more information about the Strive PEP and its benefits for your business or employees, please visit strive.com/401k.

About Strive

Strive is an Ohio-based asset management firm whose mission is to maximize shareholder value by leading companies to focus on excellence. The firm competes directly with the world's largest asset managers by offering funds that allow investors to maintain exposure to key asset classes with Strive's pro-shareholder approach. Learn more at strive.com.

About Ameritas

Ameritas is a marketing name for Ameritas Mutual Holding Company and its affiliated subsidiary companies, including Ameritas Life Insurance Corp. and Ameritas Life Insurance Corp. of New York. Founded in 1887, Ameritas offers a wide range of insurance and financial products and services to individuals, families and businesses. These products and services include life insurance; annuities; individual disability income insurance; group dental, vision and hearing care insurance; and retirement plans. For more information, visit ameritas.com.

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