IMPROVE EMPLOYEE RETENTION, RECRUITMENT, AND SATISFACTION
Traditional 401k plans are expensive and require a lot of administrative work and risk for employers. Peppermint’s Pooled Employer Plan makes offering great retirement savings options quick, easy, and affordable.
That’s the power of peppermint!
What is a PEP?
Pooled Employer Plans allow small business owners to pool retirement resources with other employers and make retirement plans less
expensive and easier to manage.
Does my business qualify?
Companies of any size can join a Pooled Employer Plan AND employers starting a new plan may be eligible for SECURE Act tax credits of up to
$15,000 over three years.*
Why should I sign up with peppermint?
With peppermint as your plan sponsor, you can give your employees the retirement plan options they want without the cost, risk, and administrative burden of a traditional 401k. Improve employee satisfaction, retention, and recruitment while helping your team save for the future.
CREATE YOUR OWN RETIREMENT PLAN IN 3 EASY STEPS
How does peppermint
compare to a traditional 401k
A peppermint retirement plan can work for almost any business, not just SMBs and start-ups. Our plans are designed to make it easy for any employer and offer several advantages over traditional 401ks.
peppermint
Lower employer costs
Combining multiple employers lets you leverage group buying power which means lower fees and less paperwork and maintenance
Less risk
Peppermint acts as your fiduciary which limits your liability
Easy launch
Peppermint reduces the employer’s work. We manage vendors, work with investment managers, and find other companies to expand the pool
No filings, forms, audits, or notifications
Peppermint is responsible for signing & filing required forms including the 5500 and 8555-SSA, any audits, and all employee notifications
Traditional 401k
Higher costs and admin
Administrative costs are typically higher, and the employer is responsible for more administrative tasks
More risk
The employer is the plan fiduciary and therefore assumes all risk
More tasks
The employer is responsible for plan set up, ongoing plan maintenance, investment selection, and working directly with vendors
Filings, forms, audits, and notifications
Employers are responsible for signing and filing all forms, initiating and funding applicable audits, and notifying employees
Tax Credits
Setting up a PEP may give you up to $15,000+ in tax credits over 3 years. Consult your tax advisor to determine credits*
PEPPERMINT WORKS FOR ANY SIZE COMPANY FROM 1 to 1000
Run the Numbers
Use the peppermint calculator to determine costs and compare options
We know that peppermint might not be right for every business, which is why we’ve created this calculator. Our plan calculator will give you an idea of how your perfect retirement plan will affect your bottom line.
Choose from 3 contribution options:
Dollar for Dollar
Allows the employer and participants to maximize contributions.
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- Safe Harbor Option
- Employer matches 100% on the first 4% of deferred compensation
- Employee keeps 100% of investment if they leave the company at any time
- Exempt from most annual compliance testing
- Optimizes your highly compensated employees’ personal retirement
Fixed 3%
Assures that all employees receive retirement benefits.
-
- Safe Harbor Option
- Employers put in 3% of employee's compensation, even if the employee does not contribute
- Employee keeps 100% of investment if they leave the company at any time
- Exempt from most annual compliance testing
- Optimizes your highly compensated employees’ personal retirement
Discretionary
Gives the employer the ability to adjust contributions as business needs change.
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- Non-Safe Harbor Option
- Employer has more flexibility and can contribute as little or as much as they would like
- Employer may withhold a percentage of the employee’s earnings based on time of service at departure
- This plan requires testing and evaluation which cost an additional $1000 annually
- Employer directed
Not sure which plan is right for you? CLICK HERE to access our guide.
Tell your boss about peppermint
Would you like to have a retirement plan at your company or organization? Not sure how to get started? Just click below to download our summary PDF flyer. You can print or email it to anyone so that they can learn about peppermint. Share it with your boss, colleague, or HR professional so you can start saving today!
It’s Our Focus
Peppermint isn’t a big bank or financial company, and we don’t have 100s of plans or options for you to consider. We do one thing and do it well.
Our Partners
Peppermint works with some of the most trusted names in retirement planning. We picked these partners because their values and focus match our own.