Strive Announces 401(k) Offering for Small and Medium-Sized Businesses
March 22, 2023
Strive to offer retirement investment options that focus solely on maximizing shareholder value over non-pecuniary social and political agendas
COLUMBUS, Ohio--Yesterday, Strive announced the launch of the Strive Pooled Employer Plan (Strive PEP) , which will enable small and medium-sized businesses to offer their employees a 401(k) plan seeking to focus on financial factors alone.
Currently, the 401(k) market is dominated by ESG-promoting asset managers that prioritize social, political and other non-pecuniary factors over financial return. Prior to Strive’s 401(k) Program, most business owners had little choice: They could offer their employees retirement plans via these ESG-advocating financial firms or none at all. .This was especially true for small and medium-sized businesses for whom a fully customized retirement benefits plan was out of reach.
Strive’s 401(k) program is challenging the status quo. It allows businesses to offer their employees a choice in how their 401(k) money will be invested and the ability to align their investment dollars with an asset manager that prioritizes excellence over politics. Strive is especially proud to be able to offer this option via cost efficient pooled employer plans (PEPs), which will allow small and medium business owners to participate.