HUB INTERNATIONAL EXPANDS ACCESS TO RETIREMENT PLANS FOR BUSINESSES WITH LESS THAN 100 EMPLOYEES WITH ADDITIONAL HUB RETIREMENT SELECT POOLED EMPLOYER PLAN

Designed for Owners with Less Than 100 Employees to Offer Employer-Sponsored Retirement Plan Coverage

CHICAGO, Feb. 21, 2024 /PRNewswire/ -- HUB Retirement and Private Wealth (HUB RPW), a division of Hub International Limited (HUB), announced today the launch of the HUB Retirement Select PEP (Pooled Employer Plan). It is designed for clients with fewer than 100 employees in the U.S. that are seeking to offer 401(k) retirement plans, with the opportunity to reduce costs, complexity, fiduciary responsibility, and administrative burdens. HUB Retirement Select PEP complements the currently available single employer HUB Retirement Select options for small business.

The SECURE Act of 2019 provided small business tax incentives for establishing a retirement plan and created PEPs to help close the retirement plan coverage gap and simplify the process, making saving for retirement easier and more accessible for many Americans. The SECURE 2.0 Act of 2022 then enhanced the small business tax incentives.

"HUB is committed to helping expand the opportunity for all Americans to save for their retirement. With HUB Retirement Select PEP, clients have another option to offer a competitive retirement plan to their employees that ultimately helps them attract talent and help employees achieve financial security and overall financial wellness," said Joe DeNoyior, President of HUB RPW. "This PEP puts offering a retirement plan within reach of small businesses, while simplifying the complexities of plan management and fiduciary risk normally associated with providing one, enabling our clients to focus more on their core business."

HUB Retirement Select PEP works in partnership with Sallus Retirement, an independent Pooled Plan Provider (PPP) who serves as the lead fiduciary, and Ubiquity Retirement + Savings, an independent retirement plan provider and recordkeeper. With HUB Retirement Select PEP, small businesses join along with other employers, so they do not need to sponsor a separate retirement plan and can immediately reap the benefits of scale in pricing and service. Similar to large companies, they also receive support from full-time investment professionals to manage the investment options offered to their employees.

In addition to the small business options, HUB Retirement Select 100+ PEP is available for employers with more than 100 employees.

For more information on HUB Retirement Select PEP, click here.

HUB RPW continues to strengthen its services with the addition of talent, services and resources, such as HUB Retirement Select PEP, to develop more comprehensive strategies for clients. HUB RPW works to help employers create an offering that aligns with their business strategy, navigates fiduciary responsibility and helps employees pursue their financial goals. The several registered investment advisory affiliates in HUB RPW provide investment advisory services to clients whose total assets are approximately $148 billion.

About HUB International 
Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 17,000 employees in offices located throughout North America, HUB's vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow. For more information, visit HUB Media Center. 

About HUB Retirement and Private Wealth
HUB Retirement and Private Wealth ("RPW") offers institutional and retirement services to for-profit and not-for-profit organizations and customized private wealth management services to individuals and families. Employees of Hub International offer securities through partner Broker Dealers not affiliated with HUB.  Employees of HUB provide advisory services through both affiliated and unaffiliated Registered Investment Advisors (RIA). Global Retirement Partners, LLC, Millennium Advisory Services, Inc, TCG Advisors, Hub Investment Advisors, LLC, HUB International Investment Advisory Services, Inc., are wholly owned subsidiaries of Hub International. Learn more about HUB Retirement and Private Wealth.

About Sallus Retirement LLC
Sallus Retirement was built on the simple belief that saving for retirement should be possible for everyone. As a modern digital company, Sallus is revolutionizing the 401(k) industry by tailoring retirement plans for the underserved small business market and streamlining processes through automation and expert support. As a fully independent pooled plan provider (PPP), Sallus serves as the lead fiduciary providing oversight to ensure that all of its partners are meeting the needs and expectations of the small business owners, plan participants and the financial professionals who serve them. For more information on Sallus Retirement, please visit: www.Sallus.com 

MEDIA CONTACTS:
Marni Gordon
Phone: 312-279-4601
[email protected]

Jessica Wiltse
Phone: 312-596-7573
[email protected]

SOURCE Hub International Limited