Introducing the AVMA Trust Association Retirement Plan 

A complete, cost-effective, turnkey retirement solution for members

As a member of the AVMA, you now have the opportunity to provide your employees with a new kind of retirement solution. This robust solution helps take the heavy lift of daily administration off your plate, giving you the time back to focus on what is most important, building your practice.

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Who we are

The AVMA Trust has been serving AVMA members for over 60 years with insurance solutions, group benefits, and risk-management resources available exclusively to members through AVMA PLIT and AVMA LIFE. Designed by veterinarians for veterinarians, our offerings help protect what matters most: Your profession, your practice, your family, and your team.

A retirement plan solution designed specifically for members of AVMA

Being part of AVMA, you can help your employees maximize their potential for retirement planning. This plan is designed to help save time and simplify plan administration for your practice. By participating in the AVMA Trust Association Retirement Plan you gain the expertise, knowledge, and capabilities of a team of dedicated professionals to reduce your fiduciary risk while helping improve retirement outcomes for your employees. 

Attract & retain

A retirement plan solution to help attract & retain top talent

Employers are turning to offering a retirement plan to help improve workforce retention and productivity. Current employee retention and attracting new talent are two important reasons organizations offer retirement plans.

The AVMA Trust Association Retirement Plan is dedicated to helping employees save for retirement. That’s why they’ve chosen Transamerica to provide a robust participant experience for those participating in the program. With Transamerica, your employees will have access to an extensive array of onboarding services and educational resources.

Administrative responsibilities

The AVMA Trust Association Retirement Plan removes more than 90% of your administrative tasks compared to a single-employer plan.

Your load is lighter with the AVMA Trust Association Retirement Plan

As a retirement plan sponsor, your primary responsibilities* are to select and monitor service providers and:

  • Upload payroll files**
  • Collect year-end data**

Without the AVMA Trust Association Retirement Plan, your responsibilities are:

  • 3(38) Investment Manager Monitoring
  • 402(g) Limit Reporting
  • 404(a)(5) Notice Distribution
  • 404(c) Notice Distribution
  • 408(b)(2) Notice Distribution
  • Annual Discrimination & Coverage Testing
  • Auto-Enrollment Notice Distribution
  • Beneficiary Determinations
  • Blackout Notice Distribution
  • Census Review
  • Corrective Distributions
  • Death Benefit Approval
  • Distribution Processing
  • DOL and IRS Issue Resolution Assistance
  • Eligibility Calculations
  • Eligibility Notifications

  • Error Correction Monitoring
  • Force Out Processing
  • Form 5330 Preparation & Filing
  • Form 5500 Preparation, Signing, & Filing
  • Form 8955 Preparation, Signing, & Filing
  • Fund Change Notice Distribution
  • Hardship Withdrawal Approval
  • Loan Approval & Reporting
  • Loan Default Monitoring
  • Loan Policy Administration
  • Lost Earnings Calculations
  • Participant Enrollment Assistance
  • Payroll Aggregation
  • Plan Design Review
  • Plan Document Interpretation
  • Plan Document Preparation & Archiving

  • QDIA Notice Distribution
  • QDRO Determinations & Reporting
  • Required Minimum Distributions
  • Safe Harbor Notice Distributions
  • Summary Annual Report Production & Distribution
  • Summary of Material Modification Notice Distribution
  • Summary Plan Description Production & Distribution
  • Termination Date Verification & Maintenance
  • Termination Withdrawal Approval
  • Vesting Verification & Tracking
  • Year-End Data Collection & Review

Participant experience

Driving participant success

The Transamerica participant experience is designed to help people understand if their savings and investment strategy is in line with their retirement goals. It starts with enrollment and continues with personalized communications and financial education showing participants how they can improve their retirement readiness.

An easy-to-understand forecast is generated by the underlying methodology provided by Morningstar. Using simple weather icons, it shows participants if their current investment strategy is likely to produce the income they’re seeking in retirement and offers steps to improve their chances of achieving their goals. Your Retirement Outlook® is featured prominently on the participant website, mobile app, and quarterly statements.

Let the AVMA Trust Association Retirement Plan work for your practice

Removes Pressure

Takes pressure off your internal administrative resources and allows you to use those resources elsewhere.

Investment Management Support

Uses an efficient investment selection process with an all zero-revenue investment lineup from an investment professional.

Plan Design

Streamlines key plan design features, leveraging best practices.

Work with Administration Professionals

Outsources administration responsibility to TAG Resources and their administrative professionals.

More Advantages

Five More Member Advantages the AVMA Trust Association Retirement Plan offers

Making it simple

Employers don't want to be 401(k)/403(b) experts.

As the plan's third party administrator, TAG Resources supports plan setup, implementation, monitoring, enrollment, and other duties.

Fiduciary protection

Employers don't want to be at risk.

By shifting administrative and certain named fiduciary duties to TAG Resources, employers can significantly reduce their defined legal obligations and responsibilities.

Compliant

Employers don't want fines or penalties.

The plan uses processes developed to administer plans according to DOL and IRS guidelines to help avoid compliance issues.

Well-known providers

Employers want to work with industry leaders.

The AVMA Trust Association Retirement Plan combines industry-leading professional service providers for "end-to-end" retirement plan oversight, including robust tools and resources for employees.

Cost-effective

Employers don't want to overpay.

The AVMA Trust Association Retirement Plan is built on a pooled pricing model and may cost less than other programs offering fewer comprehensive services.

Key Partnerships

The collective team is committed to helping you by managing retirement plan responsibilities:

The AVMA Trust

The AVMA Trust has been serving AVMA members for over 60 years with insurance solutions, group benefits, and risk-management resources available exclusively to members through AVMA PLIT and AVMA LIFE. Designed by veterinarians for veterinarians, our offerings help protect what matters most: Your profession, your practice, your family, and your team.

TAG Resources

TAG Resources is a named fiduciary as a plan administrator and a non-investment 3(21) fiduciary under ERISA sections 402(a), 3(16), and 3(21). It is our job to perform all functions necessary to keep your plan compliant.

As such, TAG Resources is responsible for the day-to-day operations of your plan. The functions we perform on your behalf include such services as: the signing and filing of the Form 5500, QDRO determinations, participant claims and appeals, distributions, and beneficiary determinations.

Transamerica

Transamerica is an industry-leading recordkeeper with nearly 25 years of experience with pooled arrangements. Our time-tested recordkeeping technology offers a proven infrastructure allowing for pooled arrangements, ensuring a plan will be administered successfully and accurately for the plan participant’s transition to retirement.

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We are ready to help.

Visit us today at avmalife.org. We are ready to help.