Agilis Pooled Employer Plan Market Update – Q1 2024

Bringing You the Latest Developments in Retirement Plan Management

Welcome to our inaugural market update aimed at providing you trends in the evolving landscape of retirement plans and the significant developments that have taken place in the Pooled Employer Plan (PEP) arena. We are an independent consulting firm that has developed expertise in the PEP community.  We help companies seek the right PEP program for their needs and do not offer a PEP program nor accept any fees from any PEP provider.

Let’s dive into the highlights:

1. Changes and Trends: We surveyed the most relevant PEP providers in the industry as of December 31, 2023, to gain insight as to how the market is developing. For 2023, the responding PEP providers saw strong growth trends with the number of participating sponsors being added to PEPs almost doubling during 2023. For those responding, there are over 2,200 participating employers within their respective PEP programs. Two PEP providers showed new participating employers averaging over $20M in assets. This represents 25% growth in the average new participating employer average over the prior year. The $20M in average asset size points towards the fact that larger plans are now considering and adopting PEPs.

2. Regulatory Updates: In early 2023, the IRS and DOL provided some clarifying guidance on PEP plan audits, confirming that PEPs with 100 or more participants are subject to audit as opposed to the previously interpreted threshold of 1,000 participants in the SECURE Act. In addition, with SECURE Act 2.0, PEPs are now available to 403(b) plans. With, hopefully, upcoming regulations allowing collective investment trusts (CIT’s) within 403(b) plans, we believe that 403(b) PEPs will offer significant opportunities for both 403(b) plan participants and sponsors.

3. Continued Awareness Campaigns: Educational campaigns promoting the advantages of PEPs have gained momentum during 2023 as well. These campaigns aim to increase awareness among employers and employees about the benefits of joining a PEP and taking advantage of the simplified retirement savings process.  Our own education series can be found at

In addition, an article published by the National Association of Plan Advisers quoted retirement plan expert and attorney, Fred Reish, on the topic of PEPs. In Reish’s opinion, “In 5 to 10 years, PEPs will match single employer plans in new plan adoption.” You can read the full article here.

As the PEP landscape continues to evolve, we remain committed to keeping you informed about the latest developments.

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INVESTMENT ADVISOR:  Investment advisory services are provided by Agilis Partners LLC, an investment advisor registered with the US Securities and Exchange Commission.

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