Frame the PEP the right way

Ary Rosenbaum
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Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Ron Nehring, my long-time college pal, and current Republican political operative said it best about political campaigns: “he who frames the issue, wins.”

The same thing can be the same way that you market a pooled employer plan (PEP) if you haven’t been scared away from offering one. Rather than promise cost savings that may not happen if the plan asset size doesn’t reach critical mass, frame the PEP as a matter of fiduciary delegation. Frame PEPs as the opportunity for the employer to have more time to deal with the business by taking the burden of being a fiduciary away from them by having them join your PEP.

PEPs will come in all shapes and sizes and very few will muster the cost savings through a PEP against the costs had the employer remained with a single employer plan. I would focus on marketing on fiduciary outsourcing as our friends in the PEO world have done wonders.

Just my two cents as we come to January 1.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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