BLUE HAWK Retirement (BHR) is a Multiple-Employer 401(k) Plan available to members of the BLUE HAWK Purchasing Cooperative. The Plan is sponsored by BLUE HAWK, administered by 3(16) Fiduciary Services, and Transamerica provides custody of participant accounts.
Sales and service are coordinated by the Plan’s financial professionals at The Capital Group.
Multiple-Employer Plans are unique arrangements that allow independent businesses with a common tie the ability to aggregate retirement plan assets together in one plan. This aggregation often leads to greater efficiency with plan administration, compliance, and operations. Because of the scale and efficiency of programs like BHR, fees are often lower than in single-employer sponsored plans.
BLUE HAWK provides plan-level support over things that are common to all retirement plans such as:
- Service-provider selection and monitoring
- Plan document compliance
- Investment selection and monitoring
- Notices
- Participant Education
- Distribution and Loan Processing
- Form 5500
BLUE HAWK also takes on the fiduciary liability associated with sponsoring a retirement plan. By adopting into BHR, Members are able to free themselves of that fiduciary liability and transfer it to the Coop.
