'We have employees coming out of one of the most challenging economic times of their lives - eager to proactively save. 'Today, HR professionals are focused on helping their business make it to the other side of this pandemic and are looking to identify forward-thinking ways to be there for employees holistically,' said Nick Schacht, SHRM-SCP, SHRM chief global development officer. As plan sponsors, employers have an opportunity to outsource various fiduciary functions including the investment management, plan administration, record keeping and educational components of the plan.* This solution simplifies the burdensome process. HR professionals lack both the time and, in many cases, the prudent expertise to administer and manage the complexities of offering a 401(k). With this new program, employers can now offer workers high-quality, competitively priced investment options – the kind typically only available with large employers. Passed in 2019, the SECURE Act acknowledges that many small to mid-sized organizations do not have access to the necessary resources to meet their employees' retirement needs. SHRM 401(k) Solutions by Raymond James comes on the heels of the passage of the SECURE Act and in the midst of discussions in Washington about the critical role that 401(k) plans will play in America's financial future. The benefit offers a 'marketplace' for employers to shop for a retirement plan with better pricing and time savings, while potentially outsourcing significant liabilities, risks, and expertise to successfully manage a 401(k) plan. With millions of Americans without access to a workplace retirement plan and many businesses struggling to offer their employees the benefits they deserve, SHRM (Society for Human Resource Management) today announced the availability of the SHRM 401(k) Solutions by Raymond James ® program.

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