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Efficient 401(k) Administration

We empower our 401(k) clients with diversified and optimized offerings for their employees’ retirement.

Our licensed advisors will guide you through the process of evaluating your organization’s needs and crafting the best plan for your credit union.

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How Can I Create a Cost-Effective Retirement Plan for My Credit Union?

We help you create a simplified, cost-effective retirement solution that curates industry-leading partners and products according to your credit union size and plan preferences. By leveraging economies of scale through approaches such as Pooled Employer Plans, you can provide competitive benefits with reduced workload.

Terminology

Pooled Employer Plans introduce a few terms and roles that don't come up in a traditional single-employer 401(k). Here's a quick primer on who's who and what each one is responsible for.

Pooled Employer Plans (PEPs) allow unrelated employers to offer retirement benefits to their employees under a single plan, which requires fewer tax forms and no commonality of interest or connection between participating employers

Pooled Plan Provider & Recordkeepers (PPPs) provide trust and custodial services, recordkeeping and reporting

3(38) Fiduciaries are investment managers that monitor and trade investments on behalf of a company’s retirement plan

What’s the Cost Difference Between PEPs and Traditional 401(k)s?

According to a study conducted by the Department of Labor, the total costs to participate and invest through one of the three largest PEPs reviewed were between 23 and 42 basis points for a typical participant in 2023, while Morningstar found that the median total cost for each participant in a small retirement plan is 84 basis points, accounting for likely investment expenses and other administrative costs charged directly to participants.

How Do PEPs Work?

  • Costs are spread across a larger group of participants and asset base

  • Investment responsibilities are fully outsourced to a knowledgeable fiduciary, serving as a discretionary ERISA 3(38) investment manager arrangement

  • The PPP serves as the 3(16) plan administrator and takes on many of the administrative functions typically borne by participating employers

Please complete this form and we’ll email you a link to access our 401(k) Comparison Chart.

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Cost Savings Report

Savings by credit unions and employees after switching to Earnest Consulting Group
0 %

*Includes 2025-2026. Actual saving amounts may vary depending on existing 401(k) plans.

Representatives do not provide tax and/or legal advice.  Any discussion of taxes is for general informational purposes only, does not purport to be complete or cover every situation, and should not be construed as legal, tax or accounting advice.  Clients should confer with their qualified legal, tax and accounting advisors as appropriate.

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