The AGC Houston and Louisiana Chapters celebrate the formation of the AGC Southwest Chapters 401(k) Plan Plans previously sponsored by each AGC Chapter have now combined resources Baton Rouge, LA / Houston, TX: AGC Houston and Louisiana AGC signed the final documents today creating the AGC Southwest Chapters 401(k) Plan. Over the past few years both chapters have sponsored very successful Multiple Employer Plans (MEPs). The new AGC Southwest Chapters 401(k) Plan will now represent 60 companies with approximately 4,500 employees participating between the two states. According to the plans Financial Advisors, Steve Ellsworth and Robert Brann with R.W. Baird & Co., the AGC Southwest Chapters 401(k) Plan is now one of the largest super-regional association retirement plans in the country. Jerry Nevlud and Ken Naquin have created a blueprint for success for other AGC Chapters to follow.’ The benefits of the merger will be immediate: • Additional reduction in fees for all employees in the plan • Merging of intellectual capital of two 401(k) committees with both chapters represented • An even stronger focus on the laws and regulations in the retirement plan industry A better option for current 401(k) plans ‘Companies that already had a 401(k) plan chose to move into our retirement plan for various reasons: cost, trustee handoff, no audit and education among other reasons’, says Ken Naquin, President of Louisiana AGC. ‘Many of our member companies who have not yet signed up for our MEP plan are now considering it, as the benefits are clear.’ Creating a sustainable workforce ‘Over the past few years, we have seen a steady reduction in the skilled workforce in the construction industry,’ says Jerry Nevlud, President of AGC Houston. ‘In order to reverse this trend, we have taken action to help re-establish construction as an attractive and sustainable career. Retirement benefits are very high on our list of essential elements in attracting and retaining skilled workers. The formation of the AGC Southwest Chapters Plan goes a long way in accomplishing that goal’ Associated General Contractors of America (AGC) is the leading US national trade association for the construction industry with a nationwide network of 95 chartered Chapters. It’s goal is to promote excellence in building practices and improving labor conditions. Today AGC Louisiana and Houston continue to find ways to provide a full range of services to satisfy the needs and concerns of its members. To find out more about the new AGC Southwest Chapters 401(k) plan contact your local AGC Chapter.
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