401k Solution Offered to PHTA Members

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Amidst all of the excitement surrounding last year’s formation of The Pool & Hot Tub Alliance, many PHTA members may have overlooked the association’s launch of a new 401k solution.

Created specifically for PHTA by Aqualine/Venture Pacific Financial Services, the program allows any PHTA member with at least one employee to offer a 401k retirement plan. “Each company can decide on the parameters of their own program,” says Brian Brummell, managing director of Venture Pacific. “All plan details — such as eligibility, matching or no matching, and vesting of contributions — are all decided by the company with our guidance.”

Aqualine/Venture Pacific has reduced the number of investment choices to make it easier for participants to choose funds. They can also opt to have the program manage the allocation of funds based on data that participants provide.

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Brummell says the program was designed to achieve economies of scale in pricing and service, making it possible for PHTA members with businesses of all sizes to participate. “Ultimately, the program reduces 99% of the administrative work and liability for the plan sponsor by outsourcing the compliance tasks to the program,” he says.

This program is unique in that it offers protection from fiduciary liability at the highest level allowed, Brummel says. “PHTA members should consider it because it will be significantly price competitive with any other program on the market. It also will be a lot less work for employees who handle the ongoing administration of the plan.”

With total assets under management of $55 million, Venture Pacific has experience in all facets of the corporate retirement industry, including investments, compliance and administration. Working with companies ranging from one to more than 1,000 employees, it customizes solutions to meet the specific needs of each client. Venture Pacific’s insurance arm, Aqualine, is also dedicated to working with pool and spa companies.

For more information on PHTA’s 401k program, contact Brummell at (949) 421-3532 or [email protected].

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