The Society of Collision Repair Specialists (SCRS) will be hosting two webinars focused on providing the collision industry more information about the 401(k) Multiple Employer Plan (MEP) the association launched in 2019. The program is designed to provide members with access to cost-effective retirement plans that reduce costs, mitigate administrative burdens, limit fiduciary risks and increase what SCRS members are able to offer to attract and retain employees.
The first webinar will be held at 2 p.m. EDT on Wednesday, Feb. 26 and will focus on “Everything You Need to Know About Switching From an Existing Plan.” SCRS’s plan advisors will walk through topics designed to help inform businesses with an existing retirement solution in place about the benefit and process of adopting the SCRS plan. The webinar is open to everyone in the collision industry, including those who are not members of SCRS. Topics will include:
- New tax benefits from the SECURE ACT
- What have we seen from members who have switched to the SCRS plan, and how it has met expectations relative to key factors in the decision?
- How to navigate existing relationships with your current plan
- Educating employees and answering questions that have been common for participating businesses
- Transition process: what is needed, timeline, integration and what to expect
- What is needed from your business to review and compare against your plan in 2020?
- Review of the current fee schedule and outline of fee reductions as the plan grows in size
To register for the first webinar, click here.
The second webinar will be held at 2 pm EDT on Tuesday, March 17 and will focus on “Starting a New Retirement Plan with SCRS.”
In this webinar, SCRS’s plan advisors will walk through topics designed to help inform businesses that do not currently offer retirement services about the benefit and process of starting one within the SCRS plan. Topics will include:
- New tax benefits for businesses adding a retirement plan in 2020
- State mandates of retirement plans
- An overview of the basics of the SCRS plan
- How the SCRS plan can reduce administration and overhead for participating business owners
- An overview of what is needed from your business to review your options
- An overview of the plan fees and performance
To register for the second webinar, click here.
Both webinars will be live and open for Q&A from those who call in.
You do not have to be a member of SCRS to participate in either webinar or have a plan analysis conducted; but non-members will need to join SCRS if they wish to participate in the plan.