The Vegas Chamber 401(k) Plan is Now Available – Affordable Association Retirement Plan (ARP) for Members
The Vegas Chamber now offers an Association Retirement Plan (ARP) to help our small business members access more affordable and robust 401(k) investment options. The announcement comes after the US Department of Labor (DOL) issued regulations governing ARPs.
The Vegas Chamber is among the first associations (and likely the very first) in the United States to offer an ARP. It has been working with the DOL, as well as retirement plan experts, to establish a robust ARP to help you provide high-quality retirement plan choices. The plan is open for enrollment.
Currently, small businesses are often limited by retirement plan choices and incur higher administrative fees because they don’t have the buying power of a larger company. The new ARP rule, effective now, allows multiple small employers to pool their assets. By joining together through the Vegas Chamber ARP, small businesses will be able to attract a better deal from investment advisors as well as enjoy lower fees.
Another benefit of the Vegas Chamber ARP is that members that utilize the plan do not need to worry about many of the administrative duties, such as IRS filings, as these functions will be handled on behalf of employers by the association.
The Vegas Chamber is proud to announce that the following members have been approved to serve on the 2021 Vegas Chamber Association Retirement Plan Committee, overseeing the Association 401(k) Plan, effective Jan. 1, 2021:
- Gina Bongiovi, Bongiovi Law (incoming Chair, Vegas Chamber Executive Committee), 2-year nomination
- Mike Bolognini, Cox Communications (Vegas Chamber Executive Committee member), 2-year nomination
- Terry Shirey, Nevada State Bank (Vegas Chamber Executive Committee member), 1-year nomination
- Michael Feder, Dickinson Wright (Vegas Chamber Board of Trustees member), 1-year nomination
- CEO of The Vegas Chamber – standing member of Retirement Plan Committee (Mary Beth Sewald, CEO, Vegas Chamber)
- Mitch Fox, Nevada Broadcasters Association, 2-year nomination
- Chris Porter, Porter Group, 1-year nomination
- Terry Wiszt, Diamondback Equipment Sales,1-year nomination
We would also like to thank 2020 Chamber Chair and President of Cragin & Pike Tom Burns, Trustee Lisa Beckley/The Beckley Group and Trustee Betsy Fretwell/Switch for their service, support and guidance on the Retirement Plans Committee through 2020.
The plan is managed and administrated by Caldera Wealth Management, a long-time Chamber member. It specializes in creating tailored strategies that address complex wealth management issues or business obstacles and is known for its excellent customer service.
Caldera Wealth Management is now taking applications for the plan.
The Chamber established an ARP to give its members more robust and affordable retirement plan options to help their employees save for their future. This is another great Chamber benefit to deliver meaningful value to your business.
Take the opportunity to learn about the ARP and ask questions about how the plan will help your business and employees by contacting us at 702.846.401k (4015).CONNECT WITH US ON ASSOCIATION RETIREMENT PLANS