88% of workers say a 401(k) is an important benefit and 81% say it impacts their decision on where to work. Yet many small and midsize manufacturers have been unable to offer one due to prohibitive costs and overly complex set up and administration. According to the Department of Labor, retirement options are only available to 53% of employees at businesses with less than 100 workers.
TMA provides it members an established TMA 401(k) Retirement Trust for manufacturers specifically focused on small and midsize manufacturers (SMMs). The Trust reflects the values of the industry and provides high-quality employee benefits that could tip the scales when recruiting and retaining top talent.
TMA provides it members an established TMA 401(k) Retirement Trust for manufacturers specifically focused on small and midsize manufacturers (SMMs). The Trust reflects the values of the industry and provides high-quality employee benefits that could tip the scales when recruiting and retaining top talent.
SAVINGS |
SUPPORT |
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✓ Size of the Trust allows access to institutional pricing unavailable to most SMMs
✓ 51 TMA members currently participate in the 401(k) plan ✓ Current assets: > $118.8 million ✓ Drastic reduction in fees - estimated to date: >$1.3 million in total savings ✓ TMA membership fee is recouped several times over via average Plan Savings |
✓ Reduction in employer workload
✓ Reduction in employer liability ✓ Objective, complimentary review of current plan ✓ Retirement readiness calculators and other retirement readiness tools ✓ Annual Education meetings with 1-on-1 availability |
LEADERSHIP
The TMA Retirement Trust is governed by a Board of Trustees comprised TMA members. The plan's advisor is Rothschild Investment Corporation, which was established in 1908. Rothschild does not have or sell any investment products. Instead, they act as an advocate for the members and their employees.
BOARD OF TRUSTEE
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David Long
Pro Mold & Die |
Mark Ziegenhorn
Matrix Plastic Products, Inc. |
Tim Merrigan
Chucking Machine Products, Inc |
Althea Mottl
Atlas Tool Works, Inc |
Pam Simantz
A.J.R. Industries, Inc |
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Patrick Steininger
Sko-Die, Inc. |
Timothy Stoll
Armin Tool & Mfg Co |
Lianne Sundberg
Simplex System Controls, Inc. |
Bob Swanson
Gatto Industrial Plater, Inc. |
ADVISORY TEAM
