CHAMBER 401K & HEALTH INSURANCE PROGRAMS
Multiple Employer Aggregation Program (MEAP): A 401(K) Opportunity for Members
Our mission at the Chamber is to do everything we can to help members succeed by providing valuable services and programming. To that end, we’re excited to announce a powerful new retirement planning solution that is now available exclusively for members of One SouthCoast.
One SouthCoast has partnered with Lincoln Financial, a nationally recognized leader in retirement planning services to develop this unique program that leverages the strengths of group participation to provide a cost-effective and easy way for you to implement a turnkey 401(K) employee program.
What is the MEAP Program?
The Multiple Employer 401(k) Aggregate Program (MEAP) is a group 401(k) program designed and made available for an organization’s members or clients. The MEAP is designed to gather each plan’s important administrative, recordkeeping and fiduciary services to be overseen by a third party and often helps reduce time and cost.
Multiple Employer Aggregation Program (MEAP) Brochure
Advantages of joining a Multiple Employer Aggregation Program brochure
Time to review flier
Why should you consider joining a MEAP?
Every business owner tells us the same thing: They want a retirement plan solution that is EASY, PROTECTS THEM, and is COST COMPETITIVE.
Learn more about the advantages of Joining a MEAP Program
How much will this cost?
The MEAP delivers more value and services – potentially at a similar or lower cost than they are already paying. And, as plans grow, they’re reviewed regularly for price reductions.
Take the Next Step
Put our group 401(k) experience to work for you, please contact:
Ted Melhado
Bay Financial Associates
781-577-2313
tmelhado@bfa-online.com
A 401(K) Opportunity for Small Nonprofit Members
The Massachusetts 401(k) “CORE Plan”
This Plan was Built for You: Massachusetts Nonprofits
With a deep commitment to the nonprofit sector in the state, the Commonwealth of Massachusetts created a retirement plan specifically for small nonprofits with 20 or fewer employees (at the time of adoption).
The Massachusetts 401(k) CORE Plan was built for and is tailored to the Massachusetts nonprofit community. The Office of the State Treasurer sponsors the Plan and meets regularly with an advisory board made up of public benefit and nonprofit leaders across the state to stay apprised of the interests of the sector and to make sure the Plan continues to meet to the needs of the nonprofits it serves. The Commonwealth also acts as a Plan Fiduciary, so the organizations enrolled in the Plan don’t have to shoulder most of that role. This makes the CORE Plan an easy way for nonprofit leaders to offer their employees a quality, affordable benefit, without having to take on a lot of extra work. Employees are a nonprofit organization’s greatest asset. Offering a retirement plan is an effective way to attract, retain, and reward key talent.
Our mission at the Chamber is to do everything we can to help members succeed by providing valuable services and programming. To that end, we’re excited to partner with the CORE Plan to introduce this retirement planning solution to our small nonprofit members of Massachusetts.
Small Nonprofits Banding Together
Since it can be difficult for small nonprofits to find a quality, affordable retirement plan program when searching as a single employer, the CORE Plan allows nonprofits to band together and benefit from scale. This arrangement is called a Multiple Employer Plan (MEP). A MEP allows the nonprofit to participate in a more robust program at a lower cost than they might otherwise access as a single employer. Nonprofits have an ethos of working together. The CORE Plan embodies this spirit.
Why Should My Nonprofit Join the CORE Plan?
This Plan was built for you, with the understanding that those of you at small nonprofits wear many hats and don’t have a lot of time to spend running a retirement plan. With the CORE Plan, the vast majority of fiduciary responsibilities and liability are transferred off of your plate and over to the Commonwealth. The Office of the State Treasurer is very committed to the nonprofits of Massachusetts and places great importance on the views and feedback of the employers participating in this Plan.
Health Insurance Plans
Health insurance plans through various member companies are available to members.
For additional information please contact HSA Insurance at (781) 228 -2222