What is a Pooled Employer Plan?
Pooled Plan Provider
The SECURE Act of 2019 allowed unrelated employers to join together to participate in a retirement plan that is independently sponsored by a pooled plan provider like Slavic401k.
Investment Manager
Castle Rock Investment Company is responsible for selecting, managing, monitoring, and benchmarking the investment offerings of the plan.
Adopting Employers
This enables small businesses to combine resources and reduce the costs associated with providing a retirement plan. Each employer chooses their own retirement plan features. Some employers match employee contributions, while others do not.
Enjoy SECURE 2.0 Tax Credits
The tax credits below are available to companies with 50 or fewer employees and no prior retirement savings plan.
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$500 for three years
To add automatic enrollment plan provision.
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$250 for startup costs in first three years
Per eligible non-highly compensated employee up to $5,000 each year.
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$1,000 per employee
For employer contribution to participants earning up to $100,000. Gradually reduces over five years. See IRS Form 8881.
Looking for a tax credit?
Did you receive a letter from your state?
Pooled Employer Plan vs. State Mandated IRA
| Trait | Castle Rock PEP | State IRA |
|
Investment Options |
Professionally Managed |
Government Selected |
|
Employer Match |
Employer Option |
None! |
|
2024 Employee Contribution Limits |
$23,000 |
$7,000 |
|
Pretax and Roth Contributions |
Both Pretax and Roth |
Roth |
|
Annual Limit Employee + Employer |
$69,000 |
$7,000 |
|
Age 50+ Catch-up Contribution |
$7,500 |
$1,000 |
|
Employer Contribution Tax Credits |
None! |
|
|
Plan Costs as Business Deductions |
Your Choice |
None! |
Uploading Contribution Files
Contribution Template
This is the actual template to pass payroll deductions and/or employer contributions to Castle Rock PEP.
PEP Portal Access
The button below includes the online portal access form, template formatting guide, and instructions to upload a test file. The portal access form can be submitted here.
Uploading Files
This document provides step-by-step instructions on uploading your contribution files. Additionally, you can watch this short video to see how it’s done!
See things in action
Watch the employer web portal demo.