Alera Group Enhances Pooled Employer Plan Retirement Solution
April 8, 2024
Deerfield, IL (April 8, 2024) — Alera Group, a leading independent national insurance and financial services firm, announced enhancements to the three-year-old Alera Group Pooled Employer Plan to align with the needs of its rapidly growing client base.
“Alera Group was an early believer in the potential for PEPs to serve our clients,” said Christian Mango, Executive Vice President and National Practice Leader for Alera Group’s Retirement Plan Services division. “The success of the Alera PEP has surpassed all expectations, and we believe we can make it even better by creating efficiencies across our retirement plan services platform at a time when interest in and adoption of PEPs has been growing. These solutions are resonating with our plan sponsor clients across plan-size segments.”
The Alera Pooled Employer Plan, in partnership with The Standard, offers broad and flexible plan design capabilities enabling each individual employer to select provisions best suited for their needs. The Standard serves as the pooled plan provider and ERISA 3(16) fiduciary, while Alera Group provides ERISA 3(38) investment management and consulting services.
“Industry leaders like Alera Group have great insight into the needs of their clients, and we feel fortunate to collaborate with them and help them execute on their mission,” said Steve Chappell, vice president of retirement plan sales distribution for The Standard. “Not all PEPs are created equal, but we’ve found a sweet spot in structuring our PEPs to meet the unique needs of industry leading firms like Alera Group, while delivering the white-glove service experience their clients demand.”
Alera Group’s Retirement Plan Services division’s business strategy emphasizes serving plans up and down the size spectrum. “We see tremendous opportunity to provide scaled retirement solutions both externally and internally here at Alera Group across our Insurance and Employee Benefits client base,” said Mango. This month, the division also announced the launch of a small-business retirement plan solution in partnership with Vestwell, and in summer 2023, it announced an expansion into the large-market space.
About Retirement Plan Services at Alera Group
Alera Group’s Retirement Plan Services division serves a wide variety of plans including 401(k), profit sharing, defined benefit, cash balance, 403(b), 457, PEP and deferred compensation. Advisors work with plan sponsors on plan design, financial wellness, investment analysis, benchmarking and fiduciary plan governance. Learn more at https://aleragroup.com/retirement-plan-services.
About Alera Group
Alera Group is an independent, national insurance and financial services firm with more than $1.3 billion in annual revenue, offering comprehensive employee benefits, property and casualty insurance, retirement plan services and wealth services solutions to clients nationwide. By working collaboratively across specialties and geographies, Alera Group’s team of more than 4,200 colleagues in more than 190 locations nationwide provides creative, competitive services that help ensure a client’s business and personal success. For more information, visit https://aleragroup.com/ or follow us on LinkedIn.
The Standard is the marketing name for StanCorp Financial Group, Inc., and its subsidiaries. The Standard and Alera Group are not affiliated entities.