Equitable's New 403(b) Pooled Plan Lowers Entry Barrier for Nonprofit Retirement Benefits

Nonprofit employees now have a more accessible path to employer-sponsored retirement benefits, as only 21% of nonprofits currently provide such plans. Equitable has introduced a 403(b) Pooled Employer Plan (PEP), allowing unrelated nonprofit organizations to pool their employees’ retirement funds into a single plan managed by a third-party provider. This structure reduces the administrative burden of compliance and reporting while providing protection from fiduciary risk. The plan is available through the Equitable Retirement Vision platform for employers establishing new 403(b) plans or transitioning from another provider. MAP Retirement serves as the pooled plan provider, third-party administrator, and 3(16) administrative fiduciary, while SWBC Retirement Plan Services acts as the 3(38) investment fiduciary. This model shifts the operational details of plan management from the nonprofit leader to a third-party infrastructure.