These are all valid concerns—but the fact is this:
401(k)s take a lot of up-keep.
As a result, they take a lot of employee hours, which more often than not costs you as an employer more money. With California Craft Brewers Association and TAG Resources at the helm of your retirement plan, you can stay on top of your business, knowing that the day-to-day responsibilities of your plan are being looked after.
Every 401(k) has to take governmental compliance seriously.
TAG administered plans are consistently compliant, so IRS and DOL audits are a breeze. No TAG administered program has ever failed a DOL audit.
Average Retirement Plan Audit Duration
Without TAG: 42 Days in your office
With TAG: 10 Days in our office
The responsibility of a 401(k) should never be undersold.
This is not a scare tactic, it's a fact! 67.2% of company's 401(k)s that are audited by the Department of Labor fail the audit. Since the DOL's concern for retirement plans, above all else, is that the plan is being run for the benefit of the employees, any failings in plan administration can end up being an extremely costly problem.
Most 401(k)s place the Fiduciary Responsibility, and by extension, risk, solely on the Plan Sponsor — meaning YOU!
Many providers in the retirement plan market say they offer "Fiduciary Liability Protection" in their marketing material, but in a court of law they flatly refuse any liability. TAG, in the course of plan administration, is listed as the Named Fiduciary on your plan - meaning that with the TAG Program, you are protected to the highest degree in the industry.
TAG’s Plans are built on an “aggregated” model. This model combines multiple employer's 401(k)s together under a single "End to End" retirement program. Every employer in the plan benefits from this aggregation in the form of enhanced services and lowered costs. Employers receive services that most providers don't offer - and because the services are being offered to many at once, TAG's plan costs are the same or lower than those providers.
Due to our industry-leading 3(16) fiduciary liability protection, your risk of loss of personal wealth resulting from fiduciary liability action is greatly reduced.
Because TAG fulfills 99% of plan administration duties, you don't need to have the cost of an employee or department focused on retirement plan administration. Your employees can stay focused on moving your business forward.
Because we keep your plan consistently compliant, you will not be subject to fines and penalties resulting from IRS and DOL audits.
Connecting and empowering the craft brewers of California through advocacy, education and communication The California Craft Brewers Association is a 501(c)6 non-profit trade association representing the craft and specialty brewing industry in California. Formed in 1989, the CCBA is the oldest state trade association representing craft breweries. The CCBA is committed to protecting the growth, quality and variety of California’s craft brewing industry.
The primary function of the CCBA is to monitor legislative activity at the state Capitol and provide a single and coherent political voice representing the interests of all of California’s craft breweries.
The CCBA provides a broad realm of services to its members in the craft brewing community, including addressing critical business and supply issues and offering gatherings and events to help foster communication and education among our family of brewers and allied trade network. The CCBA’s initiatives and activities promote and protect the growth of the craft brewing industry in California. The CCBA is proud to represent the rich and diverse collection of artisans and entrepreneurs that make up the family of California’s craft brewers.
California Craft Brewers Association
Mike Faircloth and Phil May, the “Brew Crew” as they call themselves, had been craft beer fans for many years when they one day came to the realization that there was an opportunity to serve this very special niche market by making use of their extensive knowledge of company retirement plans.
They decided to pursue this idea and started attending the California Craft Brewers Association meetings and learning about the business. This is how they discovered that many craft brewers didn’t have a company retirement plan. Why? The reasons often cited where the expenses and headaches of setting it up and running it.
So the team had another idea. What if they crafted a manageable 401(k) plan that was made more cost-effective by pooling funds with fellow brewer association members? It was an idea the association had come to love, and in April 2017, the plan was approved for use in California. The California Craft Brewers Association became the first brewers association in all of America to have such a plan.
Ever since, Brewprint Advisors has been making a difference in the financial lives of this close-knit group of craft brewers and their loyal team members. Now the team has a new goal of their own – to replicate this model and bring it to brewers in states all across America.
Michael W. Faircloth II., CRPS® Vice President, Investments
Phil May, CFP® Vice President, Investments
Brewprint Advisors of Raymond James
832 12th Street, Suite 601 Modesto, CA 95354
Keep in mind investing always involves risk and you may incur a profit or loss. Past performance is not indicative of future results. No investment strategy can guarantee success. Raymond James & Associates, Inc., Member New York Stock Exchange/SIPC is not affiliated with the California Craft Brewers Association, TAG Resources or any other referenced independent organizations. Any links provided are for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed web sites or their respective sponsors. Raymond James is not responsible for the content of any web site or the collection or use of information regarding any web site's users and/or members.
TAG Resources ensures your plan reaps long-term rewards with easier day-to-day operations. As the largest end-to-end retirement plan provider in the US, TAG is recognized nationally for pioneering unique Retirement Programs. The Multiple Employer Program™ is our newest innovation, bundling retirement plans together in a service model previously only available for very large companies.
The bottom line is that for every plan, TAG acts as your Retirement Plan Department so you don't have to be an expert. We're the buffer between you and the Department of Labor/IRS to keep you compliant, we provide fiduciary liability protection, and our program is priced competitively with plans that do not provide these valuable services.
The results are easy to see: every plan gets A-List Oversight. There is no company more capable of crafting retirement plans that meet the needs of today's businesses than TAG.
Transamerica is an industry-leading Record Keeper with over $248 billion in assets as of December 2017, possessing more than 80 years of experience. Transamerica provides innovative retirement plan services and solutions.
Mesirow Financial is an independent, employee owned firm founded in 1937 with 600 employees working from 18 locations around the globe. We focus exclusively on clients. As a privately held company with $326 million in capital*, our clients receive independent, objective advice that’s tailored to their specific needs. As a pioneer in outsourced, third party fiduciary services, Mesirow Financial has been supporting plan sponsors since 2006. The firm has over 32.7 billion in assets under management* and $30.8 billion in assets under advisement*.
*as of 6/30/2018