The Marine Industry Retirement Plan
Available to all National Marine Manufacturers Association members!
By joining the Marine Industry Retirement Plan, you can provide your employees a retirement plan, help save money, and spend less time administering it.
Plan Member Benefits
- No individual annual audit
- Cost savings on the investments
- No individual Form 5500 reporting
- Minimal plan maintenance
- Flexible plan features, including safe harbor, Roth, and profit sharing
- Customizable 401(k) plan design options involving eligibility, matches, vesting schedules, and more
How does it work?
The Marine Industry Retirement Plan, from a government reporting standpoint, is treated like one large plan. The end result for you is a 401(k) plan with competitive investments, a strong employee education element, and someone else doing a majority of the plan maintenance legwork.
Strength in numbers
With 1,300 members in our association, we bring a large, powerful group to one unified plan. When you utilize the Marine Industry Retirement Plan, you have the advantage and flexibility of a stand-alone plan sponsor, but avoid many of the expenses and administrative burden associated with sponsoring a single employer plan.
Let us handle the paperwork for you
By participating in the Marine Industry Retirement Plan, administrative tasks can be offloaded from you to Transamerica and the National Marine Manufacturers Association.
Tasks that can be shifted may include:
- Administrative responsibilities
- Employee eligibility tracking
- Distribution processing
- Plan compliance
- Nondiscrimination testing
- Annual reporting
- Participant enrollment/education
The result is more time for you to focus on running your business.
An easy evaluation process
1. Contact Michael Ribich, Retirement Benefit Consultant
The J & R Group, Merrill Lynch
2. Providing the requested information for your evaluation
3. Scheduling a no-cost plan design evaluation meeting