Helping Your Business Offer Retirement Benefits
The Rome Floyd Chamber partners with the Georgia Chamber to offer a 401(k) Retirement Plan Exchange®, designed to make offering retirement plans easier and more affordable for small to mid-sized businesses.
This program simplifies plan management, reduces your administrative responsibilities, and helps lower costs through group buying power, while still giving your employees a strong path to retirement savings.
How It Works
At the Rome Floyd Chamber, we’re committed to helping our local businesses grow and thrive. Through our partnership with the Georgia Chamber 401(k) Retirement Plan Exchange®, offering a competitive retirement plan is easier than ever.
Here’s how it works:
1. Become Part of the Exchange
Contact the Rome Floyd Chamber to express interest.
As a Chamber member, you’re eligible to participate in this cost-effective retirement solution designed for small to mid-sized businesses.
2. Set Up or Transition Your Plan
Schedule a consultation to review plan options and begin enrollment.
Our partners will help you start a new plan or transition your existing 401(k), handling setup, onboarding, and paperwork for you.
3. Launch & Let Us Help
Notify your employees and let the Exchange team take over administration.
Enjoy the benefits of professional plan management, simplified compliance, and reduced fiduciary responsibility while your employees access a secure retirement savings tool.
Reach out to lgomon@romega.com to sign up.
Why Choose This Plan?
Simplified Administration
- Participant enrollment assistance
- Payroll aggregation & file handling
- Beneficiary designation forms & determinations
- Loan approvals, monitoring, and defaults
- Hardship withdrawal & termination withdrawal approvals
Reduced Fiduciary Risk
- 3(38) investment manager oversight
- Quarterly investment review meetings
- Fiduciary insurance coverage
- Annual fee negotiations with vendors
- DOL and IRS issue resolution support
Cost Savings & Stronger Benefits
- Vendor fee savings via annual fee negotiations on your behalf
- Fewer compliance penalties thanks to accurate Form 5500/8955 filings and year-end data handling
- Less paperwork with audits, forms, and compliance handled for you by The Georgia Chamber
Employer Responsibilities: Traditional 401(k) vs. Exchange Plan
Traditional 401(k) Plan
- Handle compliance testing and annual reporting
- Monitor investments and act as fiduciary
- Hire and work with auditors
- Manage distributions, withdrawals, and loans
- Maintain plan documents and ensure legal compliance
Exchange Plan (Georgia Chamber Solution)
- Professionals manage all testing and file key forms3
- Investment manager handles oversight
- Exchange approves and processes withdrawals and loans
- Exchange handles document prep, updates, and interpretation
- Annual vendor negotiations handled by the Exchange
The Georgia Chamber 401(k) Retirement Plan Exchange® is a smart, streamlined solution that takes the heavy lifting off your plate.
By joining, businesses can reduce fiduciary risk, simplify plan administration, and offer employees competitive retirement benefits, all while potentially saving on costs. It’s an easy way to stay compliant, attract top talent, and focus on growing your business.
Pricing Guideline
The Georgia Chamber 401(k) Retirement Plan Exchange® offers cost-effective retirement solutions by pooling resources from multiple businesses. This approach allows employers to access lower fees, simplified plan management, and professional oversight.
See below for more information on pricing.