Lunch & Learn - PVP Chamber Group 401K Plan

Palos Verdes Peninsula Chamber of Commerce Announces Partnership with Modern Woodmen to Offer New Group 401(k) Plan for Local Businesses

The Palos Verdes Peninsula Chamber of Commerce (PVP Chamber) is pleased to announce a new strategic partnership with Modern Woodmen to offer a high-quality, cost-effective Group 401(k) Retirement Plan exclusively for Chamber members. This initiative is designed to help local businesses stay competitive, reduce administrative burdens, meet California’s upcoming CalSavers deadline, and provide employees with a robust retirement savings benefit.  Plus, Modern Woodmen donates a portion of plan fees directly back to the chamber to fund events and programs for the business community.
 
JOIN us for a free LUNCH & LEARN to find out more!  


Why opt into the PVP Chamber 401(k)?

• Cost Savings (Typically 20–40%)
By leveraging the power of economies of scale, member businesses join together to access better pricing and a higher-quality plan than they could typically secure on their own.
 
• Significant Time Savings (~90%)
A dedicated team of specialists will fully administer and manage the plan, giving business owners back valuable time.
Most businesses spend 60–80 hours per year administering their 401(k) when done correctly—hours that can now be redirected toward growing their business.
 
• Liability Protection Through Enhanced Fiduciary Services
Unlike most small to mid-size 401(k) plans, the Chamber’s offering includes both a 3(16) and 3(38) fiduciary:

• A 3(16) fiduciary takes on the legal responsibility for handling all plan administration and ensuring compliance with ERISA and IRS rules—significantly reducing employer liability tied to plan operations.
• A 3(38) fiduciary assumes full discretion over selecting, monitoring, and replacing the plan’s investment options—removing this responsibility and associated liability from the employer.

In simple terms: business owners carry far less liability and can trust that the plan is being managed properly.

• Complies With California’s CalSavers Mandate
California law requires all employers with at least one employee to offer a qualified retirement plan—or enroll in CalSavers—by December 31, 2025.

Companies that do not comply may face fines of up to $750 per employee.

The PVP Chamber 401(k) fully satisfies state requirements, helping employers avoid penalties while offering a superior plan compared to CalSavers.​

• A Meaningful Benefit for Employees and Employers Alike When you opt into the Group 401(k) Retirement Plan, you are directly helping to financially support the PVP Chamber.  Modern Woodman will give back a 0.05% share of all assets under the group plan directly to the Chamber. This new partnership underscores the Chamber’s mission to support economic growth and strengthen the business community. With Modern Woodmen’s expertise and the Chamber’s collective buying power, even the smallest businesses can now access a retirement plan built to the standards of larger organizations.

Join us on December 4th at 12:00 pm for more information!