Understanding the NJ Secure Choice Savings Program

On Jan 17, 2022

Sponsored content provided by BCG Securities, Inc.

The Secure Choice legislation being enacted in 2022 mandates employers with 25 or employees must offer a retirement savings plan. Those that do not, will be enrolled in the New Jersey Secure Choice plan or face substantial financial penalties.

NJBIA is offering its members a solution. Help your employees achieve retirement security with our high-quality 401(k) and profit-sharing plan that can save you thousands each year. Whether you are looking for an alternative to the state-run plan or you simply want to compare your existing plan to ours, take advantage of one of the most powerful benefits of NJBIA membership.

New Jersey organizations can help their employees achieve retirement security by participating in a customizable, fiduciary-managed, high-quality 401(k) and profit sharing plan.  By taking advantage of the size of the NJBIA membership, you can offer a best in class retirement plan to your employees while saving significant money in fees and expenses.

Some of the benefits you are eligible to receive include:

• Eliminate need for annual audit
• Eliminate need to file form 5500
• Best in class employee education, both group and individual meetings.
• 3(16) Fiduciary protection
  • BCG to maintain/oversee day to day operations
  • Loan processing/distribution processing
• 3(38) Fiduciary protection
  • BCG takes full responsibility for selecting and monitoring plan investments.
• Incredible Cost Savings
  • Lowest internal investment expenses available
  • No Fidelity Bond
  • No Annual Audit Fees

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