Updated with correction
American Association of Franchisees & Dealers unveiled a pooled employer plan option for businesses
The AAFD PEP Retirement Plans, launched Monday, is available to all employers regardless of size, a spokeswoman said in an email.
Participating employers, who can customize the plan design, are responsible for a subscription fee on a per-participant basis for companies with 30 or fewer employees, and on a per-group basis for those companies with more than 30 employees, the spokeswoman said.
For those groups, there is a flat annual fee of $2,250 until their aggregate assets exceed $11.25 million, she said.
Access Retirement Solutions is the 3(38) investment manager, Alerus Retirement and Benefits serves as the record keeper, and National Benefit Services is the 3(16) plan administrator and pooled plan provider.
Interested employers can find more information on the Access Retirement Solutions website.