SAN FRANCISCO – (BUSINESS WIRE) – August 3, 2021–
Pioneer of the pension plan for small businesses Ubiquity Retirement + Savings® (Ubiquity) was selected by Sallus Retirement, LLC (Sallus Retirement), an independent professional trustee and pooled pension plan (PPP) provider, to be the 3 (16) plan trustee, registrar and third-party administrator of its new common employer plan ( PEP).
For business owners who previously could not afford to sponsor a plan or were concerned about fiduciary risk, as well as the finance professionals who serve them, Ubiquity’s record-keeping performance and Administrative fiduciary responsibilities will limit the burden and costs for small businesses joining Sallus Retirement PEP while maximizing the efficiency of PEP operations.
“We are honored to have been chosen to serve as a true archivist and independent administrator. This is the culmination of a 20-year effort to bring a full suite of retirement solutions to the small business market through our proprietary platform, ”said Chad Parks, Founder and CEO of Ubiquity. “Solving the looming retirement crisis requires the collective commitment of all trusted advisors. The Sallus Retirement solution will allow small businesses to source retirement plans from non-traditional sources, such as wealth advisers, payroll companies and benefit brokers, filling a significant gap in the market.
Since 1999, Ubiquity has paved the way for access to small business pension plans by offering low-cost fixed-cost products for individuals and groups with its Single (k) ® and Single (k) ® Plus plans. as well as its suite of traditional standalone 401 (k) plans.
“From large established vendors to small startups, we’ve gone to great lengths in our search for the right third-party administrator and records manager for our PEP,” said James Sopha, CEO of Sallus Retirement. “Ubiquity’s truly fully digital and scalable platform, its unique industry expertise, its proven track record in evolving its solutions, and its dedication to bringing retirement plan options to the small business market align strongly on our mission at Sallus Retirement. ”
Sallus Retirement will hit the market in the fourth quarter of this year to offer its PEP, starting January 1, 2022.
About Ubiquity Retraite + Épargne®
Ubiquity Retirement + Savings® is a leading financial technology company that sits at the crossroads of HCM, SaaS and robo-recordkeeping. Our mission is simple: To give the more than 60 million Americans working for small businesses a simple, inexpensive option to save for their retirement at work. For more than 20 years, the firm has pioneered transparent, lump-sum pension plans for small businesses and their employees. Ubiquity currently holds over $ 2.8 billion in retirement savings for thousands of small businesses. To learn more, visit myubiquity.com
About Sallus Retirement, LLC
Sallus Retirement, LLC, an independent group benefits provider registered with the U.S. Department of Labor, provides small businesses and the finance professionals who serve them with fiduciary expertise and oversight, as well as managed workplace pension plans. and expertly administered. Sallus Retirement dramatically reduces the high cost, risk, and complexity of traditional retirement plans, helping working Americans save what they need for the retirement they want. For more information on Sallus Retreat, please visit www.sallus.com
Sallus Retirement and Ubiquity are separate, unaffiliated companies. This press release should not be construed as a recommendation or endorsement of any particular product, service or company. This press release refers to information products or services which may be under development and which are not yet available. Accordingly, nothing in the release should be construed as a representation or legal agreement by Sallus Retirement, LLC to make specific products or services available, including, without limitation, concepts, systems, or techniques.
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CONTACT: Gregory FCA for Ubiquity Retirement + Savings
Lindsay Fitzpatrick, 610-228-2127
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: FINANCIAL ADVICE PROFESSIONAL BANKING SERVICES OTHER PROFESSIONAL SERVICES
SOURCE: Ubiquity Retirement + Savings
Copyright Business Wire 2021.
PUB: 08/03/21 09: 00 / DISC: 08/03/2021 09:02
Copyright Business Wire 2021.