About the Plan

As a small to mid-sized business, it can be challenging to offer a competitive retirement plan. BIE of NYS has pre-negotiated a retirement plan that offers all the benefits of a larger plan, including low costs.

Joining the plan will allow your employees to benefit from an optimized retirement plan with professional oversight and management in a fashion normally only offered to the largest companies. Additionally, the plan can help attract and retain top talent, which has become increasingly important in a tight labor market.

Not only do you enjoy the cost savings of a larger plan, but the bulk fiduciary liability is also placed upon the lead employer (BIE of NYS) and the service providers (Alesco Advisors and Burke Group). Retirement plan experts administer and advise on the plan while accepting fiduciary and legal responsibility instead of burdening individual employers. 

This plan is customizable to your needs with regard to individual plan provisions. As an employer, you can choose from several different plan options, including customized eligibility, matching structure, vesting schedule, and more. The daily administration is outsourced, leaving more time for you to focus on managing your business.

Don't have a retirement plan?

New York Secure Choice Savings Program requires all employers with 10 or more employees to offer a retirement plan or join the New York State Plan. Understanding the costs and challenges of running your own retirement plan, BIE of NYS is offering a cost-effective alternative. Learn more about how the NYS Secure Choice Savings Plan Law impacts your business in the latest Construction Contractor magazine from the Syracuse Builders Exchange (page 21).

Already have a retirement plan?

See how your current retirement plan compares to the new offering.