Printing Industries Alliance (PIA), the Graphics Arts Association (GAA) and the Florida Graphics Alliance (FGA) recently announced the availability of a new program, a Multiple Employer 401(k) Plan, or MEP.
The Print and Graphics Retirement Plan MEP leverages group purchasing power to provide participating member companies of the three associations with:
- No individual audit or 5500 forms, a minimum $10,000 annual savings (for companies over 100 employees)
- Minimal administrative duties
- “Members Only” fee structure saves money for participants
- Fiduciary outsourcing
- Flexible plan features including safe harbor, Roth, and profit sharing
- Customizable plan design
In making this announcement, GAA President, Melissa Jones, commented “With COVID receding and our economy opening, our members are looking for ways to save money while maintaining the benefit packages that allow them to retain their valuable staff. Our new MEP 401(k) plan provides just such an option.”
The Print and Graphics Retirement Plan, from a government reporting standpoint, is treated like one large plan. This means only one annual audit and 5500 form is needed instead of individual company audits for companies with over 100 employees. The end result for participating members is a 401(k) plan with competitive investments, outsourced service, decreased expenses and fiduciary responsibilities and a third-party company doing the majority of the plan maintenance work.
FGA President Gabe Hernandez remarked “FGA is focused on bringing value to our members through programs such as the Print and Graphics Retirement Plan and encourage our members to contact me for additional information.”
PIA, GAA and FGA have partnered with top shelf companies to provide the structure for this program. PIA Employee Benefits Partner, Gilroy Kernan & Gilroy (GKG) has developed the plan in conjunction with Transamerica. Transamerica is a top MEP provider with more than 13,000 adopting employers and $34.5 billion in MEP assets.
PIA President Tim Freeman commented, “The key to a successful program for our members is selecting knowledgeable, talented, and detail-oriented partners to develop the program with. We have done just that for the Print and Graphics Retirement Plan. GKG’s track record with our members is exemplary and Transamerica’s 17 years of experience with MEP’s will provide the tools and services that will deliver the results every employee deserves.”
The Print and Graphics Retirement Plan MEP 401(k) is now available and membership in Printing Industries Alliance, Graphic Arts Association, or Florida Graphics Alliance is a requirement for participation.
For further information contact any of the following:
Tim Freeman, President, Printing Industries Alliance
(716) 691-3211, [email protected]
Melissa Jones, President, Graphic Arts Association
(215) 396-2300, [email protected]
Gabriel Hernandez, President, Florida Graphics Alliance
(407) 240-8009, [email protected]
Ross Kraft, Vice President and Strategic Business Advisor, Gilroy Kernan & Gilroy
(315) 794-6522, [email protected]
PIA, GAA, and FGA are regional printing affiliate trade associations representing printing and print related companies in New York State, New Jersey, Pennsylvania, Delaware, and Florida, respectively. GKG is a insurance and benefits consulting firm servicing members of the MEP sponsoring organizations.
Printing Industries Alliance