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NEXt Exchange Overview Deck
- 1. THE RETIREMENT PLAN EXCHANGE ®
- 2. 2 “If you don’t have a competitive advantage, don’t compete.” - Jack Welch, Legendary CEO
- 3. 3 THE RETIREMENT PLAN EXCHANGE ® DEFINED • The private sector solution for retirement coverage (Startups to $5MM+). • Collection of single employer, non-related plans with individual plan design, 5500 filing and pricing, but in a common investment platform. • Administrative and fiduciary outsourcing • Third party administrator (payroll aggregator, testing, documents). • 3(16) & 3(38) & Fiduciary Audit rolled in • Flexible plan services • Based on the concept of Multiple Employer Plan – drives cost lower by efficiency of scale through asset pooling • One investment menu • Retirement readiness: Auto enroll and/or safe harbor default options.
- 4. 4 ADVANTAGES • Simplified remittance and investment of payroll contributions. • NEXt exchange is single point of contact for employers. • 3(16) fiduciary signs Form 5500 on behalf of employer, approves/denies loans and distributions, and distributes required communications in addition to many other fiduciary tasks. • Discounted Fidelity Bond Discounted Large Plan Audits THE NEXt Exchange® offers employers:
- 5. 5 RETIREMENT PLAN EXCHANGE ® Through NEXt MAGII PENSIONS, INC. -3(16) Plan Administrator -Third party administrator -Non-investment 3(21) Signs 5500, approves/denies distributions and loans, remits contributions, runs compliance testing, document maintenance, provides audit support, prepares marketing materials, hosts microsite. LEAFHOUSE -3(38) investment manager Selects and monitors investment lineup, provides quarterly investment report. TRANSAMERICA -Recordkeeper/Custodian Provides investment platform, website, phone support, recordkeeping platform, and education meetings. DOCUSIGN / ZOHO -Electronic signature of applications -Tracking of client/proposals
- 6. 6 SERVICE PROVIDERS FINANCIAL ADVISOR TBD AUDITOR TBD Participating Employer NAMED NON-INVESTMENT FIDUCIARY 3(21) Leafhouse NEXt Retirement Plan Exchange THIRD PARTY ADMINISTRATOR Magii Pension Services, LLC PLAN ADMINISTRATOR 3(16) FIDUCIARY Magii Pension Services, LLC UMBRELLA FIDELITY BOND Colonial Surety INVESTMENT MANAGER 3(38) Leafhouse RECORDKEEPER Transamerica Payroll Provider TBD
- 8. 8 COMMUNICATIONS Overview of The Exchange Pricing Can Be Customized / Co-Branded Under White-Label Solution
- 9. 9 POTENTIAL PARTNERS Participating Employer Associations / Franchises Payroll Co’s / Insurance Agencies • Can offer plan to members without liability to the board • No minimum number of adopters are required • Can charge a marketing fee to members using the program (up front or recurring) • We can review membership list and identify those members with a plan • Competitive advantage • No minimum number of adopters are required • Can charge a service fee to clients using the program • Marketing assistance and training provided to help close plan opportunities • Turn-Key Calling / Emailing / Marketing Campaigns
- 10. 10 What Does Success Look Like? Participating Employer • Attract and retain members • Justify annual dues • Maximize member benefits • Promote retirement readiness
- 11. 11 Using a retirement exchange solution can scale your business, while helping you pursue top-line recurring revenue.
- 12. 12 QUESTIONS
- 14. 14 DISCLOSURES This material was prepared for general distribution. It is being provided for informational purposes only and should not be viewed as an investment recommendation. If you need advice regarding your particular investment needs, contact your financial professional. Transamerica Retirement Solutions is not affiliated with magii Pensions llc, or Leafhouse.
Editor's Notes
- Multiple employer plans, also known as MEPs, are an effective way for many businesses to provide retirement coverage. However, they have specific rules requiring a relationship among the companies using them. We felt every employer should be able to benefit from lower fees and outsourced responsibility. That’s why we developed the Retirement Plan Exchange®. Today I’ll give you an overview of the Exchange and offer some powerful talking points for when you engage your prospects.
- Here’s a look at how the Exchange works. It’s a private sector solution for retirement coverage for startups to $10 million-plus. The Exchange is a collection of single employer plans with individual 5500s in a common investment funding vehicle (Group annuity contract) It provides administrative and fiduciary outsourcing Third party administrator (payroll aggregator, testing, documents) 3(16), 3(21), 3(38) & Fiduciary Audit It offers flexible plan services Similar to MEP or collective trust One investment menu Retirement readiness: Auto enroll and/or safe harbor default options Drive costs lower by asset pooling
- Here’s a look at how the Exchange works. It’s a private sector solution for retirement coverage for startups to $10 million-plus. The Exchange is a collection of single employer plans with individual 5500s in a common investment funding vehicle (Group annuity contract) It provides administrative and fiduciary outsourcing Third party administrator (payroll aggregator, testing, documents) 3(16), 3(21), 3(38) & Fiduciary Audit It offers flexible plan services Similar to MEP or collective trust One investment menu Retirement readiness: Auto enroll and/or safe harbor default options Drive costs lower by asset pooling
- The Retirement Plan Exchange offers many advantages for small businesses seeking to offer a retirement plan for their employees. The Exchange simplifies remittance and investment of payroll contributions. The third party administrator is the single point of contact for employers. A 3(16) fiduciary signs Form 5500 on behalf of employer … approves or denies loans and distributions … and distributes required communications. The Exchange provides discounted audits for employers who require the service.
- The Retirement Plan Exchange is administered by magii Pensions, Inc.. Among other things, magii will sign form 5500 … approve or deny distributions and loans … remit contributions … run compliance testing … provide audit support … and prepare marketing materials. Leafhouse acts as the 3(38) fiduciary for investments. Leafhouse will select and monitor the investment lineup and provide quarterly investment reports. Transamerica is the recordkeeper for the plan. We will provide the investment platform … the plan website … phone support … the recordkeeping platform … and educational meetings. The auditor will prepare an annual audit of each adopter’s plan (if required).
- Here’s what the partnership and responsibilities look like from a visual perspective. [Give audience five or six seconds to review]
- Thanks for listening! I’m happy to answer any questions you may have.
- USE THIS SLIDE WITH INDIVIDUAL EMPLOYERS OR SOMEONE NOT INTERESTED IN CUSTOMIZATION – HIDE SLIDES 7 & 8
- USED THIS SLIDE WITH LARGE GROUPS WHO CAN PROSPECT THEIR MEMBERS/CLIENTS
- USED THIS SLIDE WITH LARGE GROUPS WHO CAN PROSPECT THEIR MEMBERS/CLIENTS
- Here’s a look at how the Exchange works. It’s a private sector solution for retirement coverage for startups to $10 million-plus. The Exchange is a collection of single employer plans with individual 5500s in a common investment funding vehicle (Group annuity contract) It provides administrative and fiduciary outsourcing Third party administrator (payroll aggregator, testing, documents) 3(16), 3(21), 3(38) & Fiduciary Audit It offers flexible plan services Similar to MEP or collective trust One investment menu Retirement readiness: Auto enroll and/or safe harbor default options Drive costs lower by asset pooling
- Thanks for listening! I’m happy to answer any questions you may have.