Small business retirement plan pioneer Ubiquity Retirement + Savings (Ubiquity) has been selected by Sallus Retirement, LLC (Sallus Retirement), an independent professional fiduciary and retirement pooled plan provider (PPP), to be the 3(16) plan fiduciary, recordkeeper, and third-party administrator of its new Pooled Employer Plan (PEP).
For business owners who previously could not afford to sponsor a plan or were concerned about fiduciary risk, as well as for the financial professionals serving them, Ubiquity’s performance of the recordkeeping and administrative fiduciary responsibilities will limit the burden and cost to small businesses joining Sallus Retirement’s PEP while optimizing the efficiency of the PEP’s operations.
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“We are honored to be selected to serve as a true independent recordkeeper and administrator. This is a culmination of a 20-year effort to offer a complete suite of retirement solutions to the small business marketplace through our proprietary platform,” said Chad Parks, Founder and CEO of Ubiquity. “Solving the looming retirement crisis requires the collective commitment of all trusted advisors. The Sallus Retirement solution will enable small businesses to find retirement plans from non-traditional sources, such as wealth advisors, payroll companies and benefits brokers, filling an important void in the market.”
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Since 1999, Ubiquity has paved the way for small business retirement plan access by offering low-cost, flat-fee products for both individuals and groups with its Single(k) and Single(k) Plus plans as well as its suite of traditional standalone 401(k) plans.
“From large, established providers to small startups, we left no stone unturned in our search for the right third-party administrator and recordkeeper for our PEP,” said James Sopha, CEO of Sallus Retirement. “Ubiquity’s truly all-digital and scalable platform, unique industry expertise, proven track record of evolving its solutions, and dedication to bringing retirement plan options to the small business market strongly align with our mission at Sallus Retirement.”
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