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Potential cost efficiencies
Pooling participating employers can help spread certain plan costs across a larger participant and asset base.
401(k) Plan for Small Businesses
Offer a better retirement benefit—without carrying all the complexity yourself.
Through SOCA and Everhart Advisors, eligible chamber members can access a Pooled Employer Plan designed to make offering a 401(k)-style retirement benefit more manageable, cost-efficient, and easier to administer.
Sharedplan resources and administration
Expertretirement-plan support
Potentialtax credits for eligible employers
Key benefits
More retirement-plan capability. Less burden on your business.
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Fiduciary support
Key investment and administrative fiduciary functions are handled by plan professionals, helping reduce the responsibilities carried by the employer.
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Less administration
Support with plan operations, eligibility, participant administration, distributions, and related responsibilities means fewer day-to-day tasks for your team.
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Employee resources
Participants can access retirement education, digital tools, account support, and financial wellness resources.
Why it matters
You shouldn't need a retirement-plan department to offer a retirement plan.
For many small businesses, the challenge is not seeing the value of a 401(k). It is finding the time, expertise, and resources to manage one well.
- Concerned about setup and ongoing costs
- Limited staff time for plan administration
- Uncertainty about fiduciary duties and compliance
- Need for better tools to attract and retain employees
Possible tax advantages
Starting a retirement plan may be more affordable than you think.
Eligible employers with 50 or fewer employees may qualify for a federal tax credit equal to 100% of eligible startup costs, subject to IRS limits. Additional credits may also be available in certain situations.
Tax-credit eligibility varies. Employers should consult their tax professional regarding eligibility and available credits.
How it works
A simpler path to offering a competitive retirement benefit.
Tell us about your business
Share a few basic details about your company, employee count, and whether you currently offer a retirement plan.
Review your options
Everhart Advisors helps you understand how the Pooled Employer Plan works and whether it fits your organization.
Choose your plan approach
If the program is a fit, the team helps coordinate plan setup, design considerations, and transition steps.
Get ongoing support
Plan administration, participant resources, education, and professional support continue after implementation.
See the program
Learn how the Pooled Employer Plan works.
This video from the existing SOCA 401(k) program page is retained so employers can hear more about the program before requesting information.
What employers receive
Professional support behind the plan.
Who should explore it?
A practical option for growing employers.
- Small businesses that do not currently offer a retirement plan
- Employers concerned about the cost or administration of starting a 401(k)
- Businesses that already have a plan but want to review costs and service
- Employers looking to strengthen recruiting and retention benefits
- Chamber-member businesses that want expert retirement-plan guidance
Frequently asked questions
Questions small employers usually ask.
What is a Pooled Employer Plan (PEP)?
A PEP allows multiple unrelated employers to participate in one retirement plan arrangement administered by a Pooled Plan Provider. It is designed to give employers access to professional plan administration and fiduciary support while reducing many of the tasks associated with sponsoring a standalone plan.
Do we need to already have a 401(k)?
No. The program can be explored by employers starting a retirement plan as well as businesses that already have a plan and want to evaluate their current arrangement.
Can a small business receive tax credits for starting a plan?
Potentially. Under current federal rules, certain eligible employers may qualify for retirement-plan startup tax credits. The amount depends on factors including employee count and eligible startup costs. Your tax professional should determine your specific eligibility.
Does joining a PEP eliminate every fiduciary responsibility for the employer?
No. The Pooled Plan Provider and other plan professionals can assume many fiduciary and administrative functions, but participating employers retain certain responsibilities, including prudently selecting and monitoring the PEP and its provider.
Who provides the SOCA program?
SOCA makes the program available through Everhart Advisors. The current SOCA program contact is Lisa Block, Partner & Regional Director, Retirement Plan Services.
Do all chambers offer this benefit?
Program availability may vary by chamber. Businesses should confirm eligibility through SOCA or their participating chamber.
Get started
See whether the SOCA 401(k) program fits your business.
Complete the form and the program team can help you review your current situation, answer questions, and determine the best next step.
FORM PLACEHOLDER
Request 401(k) Program Information
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