In partnership with Larchmont/Transamerica, the North American Trailer Dealers Association (NATDA) is unveiling a retirement plan solution designed to reduce administrative burden, transfer certain risks and lower the overall plan costs for NATDA members.
The all-new NATDA 401(k) Group Plan Solutions (GPS), powered by Larchmont and Transamerica, puts NATDA members in control over their retirement offerings while creating an avenue to attract and retain employees, something that 81 percent of workers said play a major factor in their decision to accept a job offer according to the 19th Annual Transamerica Retirement Survey of Workers.
“Many of our members, manufacturers and dealers, alike, struggle with filling the ranks of their staff throughout the year,” says NATDA Vice President Amy Ackerman. “This new program will create a way to either attract new talent or retain their current employees, while strengthening the position of the trailer industry’s workforce overall.”
By joining the program, business owners and their HR teams’ workloads are reduced, fiduciary coverage is added and employees are offered a competitive plan, all while taking advantage of the economies of scale pricing and lessening 401(k) audit costs.
“We are excited to form a partnership with NATDA and enhance its already robust member benefit program by offering NATDA 401(k) GPS,” says Jeff J. Kim, CFP, Larchmont Financial.
“With many states already passing legislation requiring employers to either offer a retirement plan or join a state-facilitated program, this program will assure that NATDA’s members will be compliant with their states while offering a competitive plan that can be customized for a company’s needs. We are looking forward to being part of NATDA’s family and be a resource in the corporate retirement plan arena so members can focus on growing and scaling their businesses,” Kim says.