Member Retirement Program
HBRA Member Retirement Program
The new HBRA member retirement plan is a real game changer for small businesses. A pooled group plan with over 2000 other businesses and 2 ½ billion of assets so one small firm can access the cost structure of a huge company. At the same time, 90% of your administrative and investment oversight responsibilities are outsourced to a third party, which means it is simple to operate and has much lower liability than the typical 401(k) you may have.
Businesses need a retirement plan to be able to retain and compete for talent.
The biggest complaint we hear from business owners about their 401(k) is the cost and hassle of staying compliant. That is why some companies use simple IRAs or have no plan at all. This plan solves these issues and that is why the HBRA is offering it as a member benefit.
Hear what our members are saying
“For more than 15 years, I have been hesitant to implement another company 401k plan because of the complexity and cost of setting one up, as well as the difficult compliance requirements and reporting. John made the process seamless and with TAG being the fiduciary the stress of compliance has been alleviated.” -Liz Verna, Verna Builders, Wallingford
“The transfer of our 401K Plan to Tag/Transamerica couldn’t have come at a better time for us and I am very happy with the results The DiMatteo Group has helped achieve for my company. During today’s challenging times, not only did the new plan substantially reduce our expenses, but it shifted considerable fiduciary responsibility concerns and paperwork to TAG Resources, allowing me to focus on running my business. The people at Tag Resources handled the entire transition from beginning to end and walked me through it without any issue. This has been a win all around for us and I strongly recommend that others give this program a look.” -Garret Cook, Owner, Cyclone Home Systems, Berlin
Optimizing Retirement Benefits
“We switched our Nelson Construction 401k retirement plan over to the TAG pooled plan program with John DiMatteo a few months ago. The transition process was organized and methodical, keeping us fully informed along the way. TAG, along with John D. guided our turnover to keep it stress free. We now are fully converted and all employees have similar investment options, and easy online access and control of their accounts. Now, our company as the plan sponsor, has less fiduciary responsibility, less liability, less maintenance cost, and our employees are saving an additional half percent on their account assets every year through reduced fees. Converting to this new structure of pooled retirement plans has definitely been worth the transition.” -Chris Nelson, Nelson Construction, Simsbury
“As we emerge from the COVID 19 pandemic with unprecedented construction activity, despite over inflated material pricing and a labor shortage, the importance of keeping your trained employees has never been more important. I great way to do that is offer benefits. Health Insurance and additionally a 401k program. Effective January 1, 2021 we switched from a Simple IRA retirement plan to a well rounded 401k plan through TAG Resources. The change was simple from an administrative point of view and we now offer our employees more options to diversify and invest in their retirement plan. We match the employees contributions up to 4% of their annual salary. The employees have options of different investment strategies and choices on the type of funds that their assets are invested in. I strongly suggest that you look into the HBRA program with TAG Resources. If you don’t take good care of your employees someone else will.” Norton Wheeler – GMB, Mystic River Building Company LLC
Lovley Development, Inc. decided to move its 401k plan in 2020 to the HBRA Retirement Program. This change not only saved us thousands of dollars in fees, but also reduced our fiduciary liability to the lowest level possible. During the transition, DiMatteo Group was there every step of the way to make this transition seamless and easy. Thank you DiMatteo Group! – Mark Lovley, President, Lovley Development, Inc.