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Retirement Plans for Contractors & Affiliates

Bona fide benefits for Contractors and Affiliates

About the Plan
AGC San Diego Chapter Retirement Trust offers two retirement plans, a Multiple Employer 401(k) Profit Sharing Plan and a Multiple Employer Money Purchase Pension Plan. Both plans are designed specifically as bona fide benefit plans for the deposit of fringe benefit dollars meeting the prevailing wage, Davis Bacon, and Service Contract Act fringe benefit mandates.

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Pension Plan / Retirement Trust Trustees

Nigel Cary, Chair
Cox Construction Co.

Russ Baumgartner
Concrete Contractors Interstate

Brian Cox
Brian Cox Mechanical

Bill Haithcock
Casper Company

Kenneth Riha
Retired - Riha Construction Co.

Jim Roherty
Pacific Building Group

A Successful  Retirement is  Within Reach

As a business, you can partner with the Associated General Contractors, San Diego Chapter to ease the hassle of administering your retirement plan, and receive support to help meet your required regulatory obligations.

By adopting a Multiple Employer Plan you will discharge many of the Fiduciary functions incumbent upon single employer plan sponsors. This means less fiduciary liability and responsibility.

Plan Options

The 401(k) Plan

• Employers customize the plan design and features to fit their business and employee needs.
  
  • Offers employees the ability to contribute from salary, 401(k) salary deferrals
    
    • ROTH and Traditional 401(k) salary deferrals are offered.
      
• In addition to contributing fringe monies, employers may add matching and/or profit sharing contributions
  
• The plan operates as a bona fide benefit plan for prevailing wage purposes.
  
• No cost to design and no cost to prepare your plan document
  
• No cost to set up the plan with Transamerica (Transamerica is the selected recordkeeper and asset vendor for the plan)
  
• Participants are provided a menu of funds selected and monitored by the plan’s Trustees.
  
• No audit or administrative costs billed to you, the Employer.
  
  • All fees for services are billed as a trust fee paid from trust assets.

The Money Purchase Pension Plan

• This is a defined contribution pension plan. Employers will select the fixed contribution that is to be made based on all hours worked or salary paid.
  
• All contributions are employer contributions (no employee contributions made to this plan).
  
• Participants do not direct their accounts all monies are professionally managed.

​The AGC San Diego Chapter’s Multiple Employer Plans are unique​

While many service providers to retirement plans have increased their fiduciary services, they are limited in scope. Ultimately the liability is with the Plan Sponsor, Plan Administrator, and Plan Trustee. With the AGC’s Plans the Retirement Trust takes on the Plan Sponsor 3(16) roles along with the investment related 3(21) and 3(38) roles.

• If you're the business owner, CEO, CFO or manager in charge of directing the administration and/or investment of your 401(k), you are a fiduciary of the plan which comes with potential personal liability.
• Because the AGC San Diego Retirement Trust is the sponsor of these Plans you and your staff are relieved of much of the Fiduciary Responsibility and Liability incumbent upon sponsors of qualified retirement plans.

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How to Enroll

For information, please contact one of the Approved AGC Brokers:

Patrick Casinelli - email
Cavignac & Associates
(619) 234-6848

Ryan Stover - email
Marsh & McLennan Insurance Agency LLC
(858) 875-3058

​Matthew Mikolajewski - email
Matt Mikolajewski, Wealth Management
(858) 832-7243

​Laura Williams - email​
McGriff Insurance Services
(619) 525-2823

Glen Schaffer - email
Schaffer Enterprises
(858) 337-4939

​Corey Klinke - email
West Coast Group Benefits
(858) 521-7391

Most Commonly Asked Questions

Are the plans approved by the DOL and IRS?
Yes. The Plans are approved by the Department of Labor and the Internal Revenue Service. The plans are bona fide benefit plans for federal Davis-Bacon, State and Local prevailing-wage work, and Service Contract Act purposes.

Which employers are eligible to participate in the Plan?
The Plans are available to any San Diego AGC contractor or Affiliate member. Members of California AGC may also participate in the Plans through an arrangement between the Cal AGC and San Diego AGC Chapters.

Which employees can be covered under the Plan?
Participating employers may cover all employees whether prevailing wage or administrative, hourly or salaried. As an adopting employer we work with you to design the plan and cover the employees you want and need to cover.

Note: Employees who are covered by a collective bargaining agreement where retirement benefits were the subject of good-faith bargaining between employee representatives and the participating employer are excluded from participation.

Who do I contact about my retirement plan?
Current employees should contact their Human Resources department about their retirement plan.

​Former employees, reach out to your previous employer/Human Resources department for information.

If you are unable to reach out to your previous employer, please reach out to the retirement plan third party administrator,
​FuturePlan by Ascensus at (855) 566-7945 ext. 32504.

Additional  Benefit Plan Options

Employee Medical Plan for Contractors

Benefits Plus for Contractors & Affiliates