CDA Retirement Solution

The CDA has partnered with leading retirement industry providers to offer the CDA Retirement Solution.

The CDA Retirement Solution is a solution for businesses that allows you to offer a retirement plan to your employees, while aiming to reduce your administrative burden, transferring fiduciary risks, and potentially reducing costs. Sponsoring and maintaining a retirement plan can be challenging. The CDA Retirement Solution brings together a team of professionals on your behalf so you can focus on running your business, not your retirement plan.

If you have a plan, you already know the importance of offering a retirement plan.

By using the CDA Retirement Solution and leveraging total assets in the program you might experience the following benefits:

  • Reduced administrative burdens for your plan
  • Potential cost saving through economies of scale
  • Outsourced fiduciary liability to the greatest degree allowed by law to help manage fiduciary risk
  • A robust investment menu
  • Participant educational tools and resources to help your employees pursue the retirement readiness they deserve
  • A team of specialists to support the compliance and management of your plan
Many dentists, like other small business owners, have similar concerns when setting up a 401(k) plan. They want to provide an attractive workplace and rewarding benefit package for their employees, which includes a 401(k) plan, but high costs and a vast number of government rules and regulations might deter them.

So why would a dentist set up a 401(k) for his or her practice? There are many potential reasons:

  • 401(k) plans make it easier to compete for and keep top talent.
  • A 401(k) plan can help owners save for their own retirement.
  • 401(k) plans save the company on taxes.
  • Plans are easy to set up and operate … with the right help, like the CDA Retirement Solution.
  • 401(k) plans help employees retire on time.

KEY BENEFITS


Whether you currently have a plan or are considering starting a new plan, the CDA Retirement Solution might be the right solution for you. Here’s a list of key benefits of the CDA Retirement Solution.

Because the CDA Retirement Solution is built on an “aggregated” model, your company gains the advantages of economies of scale in pricing.
TAG Resources performs 99% of the administrative duties required for a company to offer a 401(k) to its employees. This removes the administrative burden from company employees and executives so you can focus on what’s most important – running your business.
This retirement plan provides you with the comfort of knowing that your 401(k) is protected to the highest level allowed by law. This commitment by TAG Resources gives you more peace of mind knowing that you are protected.
TAG is a leading “end-to-end” aggregate provider of 401(k) services in America. TAG partners with Transamerica Retirement Solutions, LLC, as Recordkeeper, and with Mesirow Financial, as 3(38) investment manager.

Tag Resources ensures your plan reaps long-term rewards with easier day-to-day operations. As the largest end-to-end 401(k) provider in the US, TAG is nationally known for pioneering unique Retirement Programs. TAG Management collectively has over 100 years of experience in the industry. That’ one reason why our concepts have been cited as the model for expanding the retirement coverage for small business in the federal government’s Retirement Act of 2014.

Transamerica is an industry leader that, along with affiliates, has more than 75 years of experience providing dynamic retirement plan services and solutions. In addition to being the recordkeeper for the handling of the benefit payments and enrollments, Transamerica also provides support up to and through the plan participant’s transition to retirement.

Mesirow Financial is a named fiduciary to the plan, being responsible for the investment selection, monitoring and ongoing due diligence of the funds in the investment menu in accordance with the Investment Policy Statement for the plan. Leveraging more than 20 years of average industry experience within our team and using our PrecisionAlpha process, a proprietary manager selection methodology, we can more accurately account for a manager’s true potential for success and active level of risk. As a pioneer in outsourced, third party, fiduciary services, Mesirow Financial has been supporting plan sponsors since 2006.

According to the U.S. Department of Labor, Employee Benefits Security Administration, more than 67% of 401(k) plans fail a Department of Labor random audit for year 2015. However, as of 2017, plans administered as directed by TAG Resources have never failed an audit or fallen out of compliance. TAG operates as your 401(k) department, signs the Form 5500 for you, and ensures each plan is consistently in compliance with the Department of Labor and IRS regulations. If you are out of compliance – TAG is out of compliance – and that has not happened in TAG’s 15+ years of operation.

CONTACT

If you would like more information on the CDA Retirement Solution, please contact Darren W. Royal, AIF, president of Royal Wealth Management Inc., at darren.royal@lpl.com or 720-733-9143.

Securities offered through LPL Financial.
Member FINRA/SIPC.
TAG Resource is the Plan Administrator and Named Fiduciary, as defined under ERISA sections 402(a), 3(16) and 3(21). As such, TAG Resources is responsible for the day-to-day operation of your plan. The QDRO determinations, authorization of benefit payments, ensuring proper spousal consent on payments are obtained, service of legal process for any potential lawsuits related to the Plan, plan operations, participant claims and appeals, distributions, beneficiary determinations, and timely completion and filing of annual information returns, and timely completion and filing of annual information returns on Form 5500, including any related extensions to the plan.

Transamerica Retirement Solutions provides record keeping for you plan. In addition to being recordkeeper for the handling of the benefit payments and enrollments, Transamerica also provides support up to and through the plan participant’s transition to retirement.
Mesirow Financial is operates as the Investment Manager 3(38) fiduciary. As the named 3(38) Fiduciary in the plan document, Mesirow Financial, is responsible for the selection and monitoring of the funds in the investment menu in accordance with the Investment Policy Statement for the plan.

Darren W. Royal, with Royal Wealth Management is the financial advisor. As the financial advisor to the plan, Darren W. Royal offers services that will help increase participation, help with enrollment meetings, provide investment guidance and education for plan participants, provide reviews on a regular basis, and suggest potential plan-design enhancements.

TAG Resources, Transamerica Retirement Solutions, Mesirow Financial, and Royal Wealth Management are all separate entities from LPL Financial.

This information was developed as a general guide to educate plan sponsors, but is not intended as authoritative guidance or tax or legal advice. Each plan has unique requirements, and you should consult your attorney or tax advisor for guidance on your specific situation. In no way does advisor assure that by using the information provided plan sponsor will be in compliance with ERISA regulations.