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UK Firm To Enter 401(K) PEP Market

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Smart, a United Kingdom and global recordkeeper, has announced it will make its recordkeeping solution available for pooled employer plans (PEPs) in the U.S. next year.

As you know,  the Setting Every Community Up for Retirement Enhancement (SECURE) Act will allow PEPs beginning January 1.

Smart has a 100% cloud-based technology that they claim will be the only solution purposely-built for PEPs.

PEPs are going to be a tough market and my two cents is that betting on launching a turnkey solution just for PEPs and not for single-employer 401(k) plans is a mistake.

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