Brokerage Launches Multiple Employer Plan for Physicians

Millennium Brokerage Group launched Physicians 401k, a multiple employer plan (MEP) designed for physicians and their practices.

As an MEP, Physicians 401k plan reduces a physician’s fiduciary liability, lowers their administrative fees, and provides top rated investment options at significantly lower costs, according to the company. As plan sponsor, Millennium has partnered with the following accredited service providers: ASPire Financial Services (Recordkeeper), TD Ameritrade (Custodian and Directed Trustee), Schneider Downs Wealth Management Advisors, LP (Investment Advisor), DWC ERISA Consultants, LLC (Third Party Administrator), and Taylor Financial Corporation (Plan Sponsor Advisor).

The announcement said Physicians 401k provides participants a comprehensive online user experience. The platform features, RetireTrac(k), a tool that allows participants to manage investment information and customize a strategy to reach their financial goals.    

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