Workforce Challenges Affecting ASCs

Burnout

66% of global healthcare professionals suffered from burnout in 2023.

Workforce Challenges

Workforce challenges ranked as the #1 concern among healthcare CEOs in 2022.

Retention Issues

55% of those surveyed expected retention issues over the next two years. 35% expect to differentiate their 401(k) plan from those of their competitors.

Your Solution

Our approach addresses the unique financial and personnel challenges facing today’s medical community.

We offer an industry-leading 401(k) plan solution to Healthcare organizations with 80+ employees and over $3 million in plan assets.

Your 401(k), Simplified.

Plan Optimization

  • Leveraging a community of participating centers to drive down costs through economies of scale.

  • Reduce your annual plan audit fees and offload plan audit responsibilities to a third party.

  • Pass most of the daily plan responsibilities to a team focused on day-to-day plan management.

Participant Outcomes

  • Increase your employees’ financial wellness with customized education sessions and webinars.

  • Access industry-leading employee wellness tools and participant technology.

  • One-on-one financial advice and guidance delivered by an experienced, centralized team.

Fiduciary Delegation

  • Open architecture investment menu curated and monitored by a 3(38) fiduciary investment manager.

  • Off-load most major plan administration duties and reduce your center’s liability with fiduciary service providers.

  • Delegate the 402(a) fiduciary responsibilities to a professional trustee with deep administrative resources.

Why Partner with GSC?

Healthcare and Surgical Center Expertise

  • Over 20 years combined experience in servicing healthcare industry retirement plans.

  • Strategic partnerships with several large national medical associations.

  • Servicing nearly $200 million in total retirement plan assets.

Client Support

  • A dedicated service team that understands the demands placed on practice administrators.

  • Administrative team with experience in healthcare workforce turnover and retention issues.

  • 360-degree payroll integration and investment fiduciary support.

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Your Plan

A retirement plan that helps ASCs manage day-to-day tasks and reduce fiduciary risk.

Pooled Employer Plans (PEP) benefit employers by centralizing plan management and reducing frictional costs. Speak with us today to see if your center is a good fit.

  • After a rigorous request for proposal (RFP) and due diligence process, we developed our PEP 401(k) solution. We selected the providers for this solution based on specific criteria, such as:

    Fees

    Integration capabilities

    Fund lineup flexibility

    Fiduciary support

    Administrative support

    technology

    Here are the providers we have chosen for this solution.

  • The “Setting Every Community Up for Retirement Enhancement Act" SECURE Act of 2020 has significantly changed the retirement savings landscape in the United States. This act, which has received broad bipartisan support, aims to expand and preserve retirement savings for Americans.

  • One of the most significant changes introduced by this act is related to 401(k) plans. It has introduced Pooled Employer Plans, meaning unrelated companies can combine assets through a single provider to:

    Increase economies of scale.

    Reduce costs.

    Delegate fiduciary responsibilities.

    This is done by having a Pooled Plan Provider (PPP) oversee the PEP 401(k) as the plan's 402(a) Named Fiduciary. Delegating fiduciary roles to professionals eases the burdens and risks of offering a retirement plan and can reduce costs and administrative tasks.

  • A Pooled Employer Plan (PEP) 401(k) may be an excellent fit for you if you want to:

    Reduce the administrative hassle of maintaining a 401(k) plan.

    Offload the annual plan audit.

    Improve plan efficiency.

Your Retirement Partners

Michael Sayre, CPFA®, AIF®

Michael is based in the greater Salt Lake City, Utah area. He was a Penn Mutual President's Club member, has been nominated multiple times for the National Association of Plan Advisor's Top Retirement Plan Advisors Under 40, and is a board member of Salt Lake's Society of Human Resource Management. Michael is a current member of the Osaic Retirement Plan Council and serves on the Osaic PEP committee.

Jonathan Greenwich, CPFA®

Jonathan is based in the D.C. metro area. He works closely with employers ranging from start-ups to large institutional plans. Jon provides consultative and fiduciary plan services, working with organizational stakeholders to accomplish their strategic and financial objectives. Jon serves as a founding board member on Future Plan’s Key Advisor Council.

Solution Providers

  • A fiduciary plan administrator with deep resources – helping healthcare providers manage day-to-day plan tasks.

  • Industry leading participant technology – helping your center’s employees feel more financial secure about their future.

  • The PPP is the plan sponsor. By hiring a third-party plan sponsor you can off-load significant fiduciary responsibilities.

  • Discretionary investment manager – relieving healthcare organizations of investment oversight liability.

Here’s what our clients are saying…

  • "Working with Jonathan and his team has helped our organization streamline plan compliance and day-to-day administrative tasks. Our employees have benefited from updated participant technology and one-on-one financial advice, with Jonathan providing detailed guidance each step of the way. "

    W. Urquhart - COO, Taradel

  • "We have loved our continued support and guidance we’ve received from Michael and his team. Everyone we have worked with is knowledgeable and prompt to reply. We cannot recommend them enough. Our employees also reach out with specific questions and they have full confidence in Michael’s trusted advice. Our company’s 401k management could not be in better hands."

    N. Farr - CEO, ServerNova

Contact Us

GS Consulting

4250 N. Fairfax Dr, Arlington, VA 22203

jon@healthcare401k.com or michael@healthcare401k.com

(801) 505-0548