Bernstein Private Wealth Management Unveils New Pooled Employer Plan

Core Insights - Bernstein Private Wealth Management has launched the Bernstein PEP, a pooled employer plan aimed at enhancing retirement benefit options for small to mid-sized businesses and private equity firms [1][2] - The new plan simplifies management, reduces costs, and provides greater investment access, addressing the gaps in governance and administrative efficiency that many small businesses face [2][3] Group 1: Product Offering - The Bernstein PEP is designed to provide a streamlined and cost-effective retirement solution, allowing employers to offer competitive benefits without the complexities of traditional 401(k) plans [1][2] - The plan combines institutional quality investments with intuitive participant engagement tools and simplified oversight, enhancing the overall experience for both employers and employees [2][4] Group 2: Market Context - Pooled employer plans (PEPs) were introduced by the SECURE Act in 2019, allowing multiple unrelated employers to participate in a single retirement plan managed by a third-party provider, thus reducing administrative and compliance burdens [3] - The SECURE Act aims to close the retirement savings gap for U.S. employees who lack employer-sponsored plans, making it easier for small to mid-sized employers to offer retirement benefits [3] Group 3: Company Background - Bernstein, as part of AllianceBernstein, manages over $142.2 billion in defined contribution assets and provides institutional caliber advice and pricing for employer-sponsored retirement plans [4][5] - The firm focuses on delivering value to businesses and their employees through effective retirement benefits, supported by dedicated defined contribution specialists [4]