Why has NATA decided to add a retirement benefit for its members now?

As with many industries, the business aviation industry is at an inflection point in attracting and maintaining top quality employees. Offering a robust retirement program is key to that initiative.

We’re proud to launch AeroPlan 401(k) as a new exclusive member benefit. This addition to our program offerings will allow companies to expand their suite of employee benefits while providing greater retirement flexibility for employees. The plan’s enrollment options, pricing, and service closely reflect those of Fortune 500 companies, giving members the option to provide a first-class retirement program without the hassle of many standard administrative tasks.

What is the AeroPlan 401(k) retirement program?

AeroPlan 401(k) is a turnkey retirement plan for businesses of all sizes. It’s simple, flexible, and easy-to-administer. Through its collaboration with NEXT Retirement Solutions and OneAmerica, NATA offers its members a seamless retirement solution that provides numerous benefits, including:

• Relief from many administrative tasks
• Relief from investment and administrative fiduciary liability
• Potentially lower costs than what may be available to members separately

Who are NEXT and OneAmerica®?

After performing due diligence on retirement service providers, NATA has selected two recognized retirement organizations: NEXT Retirement Solutions and OneAmerica.

NEXT Retirement Solutions is a national retirement services company that has been on the leading edge of the retirement space since 1994 and oversees more than $12 billion in retirement assets. The NEXT team will provide advisory services including plan oversight and design, as well as education and financial wellness guidance to participants.

OneAmerica can trace its roots in retirement plan services back to the 1960s and currently serves more than 13,000 plans and 1.3 million participants. As the recordkeeper, OneAmerica will provide the platform for plan sponsors and participants to enroll, track, and make updates to their plans. OneAmerica will also serve as the 3(16) administrator, meaning they will be responsible for administrative fiduciary and duties of the plan to ensure it complies with ERISA regulations.

Who can use this benefit?

AeroPlan 401(k) is exclusive to NATA members of all sizes. If you are a member and currently have a retirement plan, we encourage you to contact our partners for a no-obligation plan comparison to explore if this may be a better option. If you don’t have a plan, now is the time to sign up!

For non-members, we encourage you to review this benefit and other NATA programs. Our partners are offering a retirement cost comparison for you as well.

Why should members consider changing their plan?

First, AeroPlan 401(k) offers many of the benefits associated with a group plan, yet members maintain the ability to customize features like matching formulas and vesting schedules. The size of the Association gives each member greater buying power than they have on their own, which could translate to lower costs for your business and better outcomes for your employees.

Second, members have the opportunity to work with long-tenured retirement professionals associated with nationally recognized organizations. Whether you’re a large enterprise or small-to-medium sized business, you’ll receive the highest degree of financial counsel and attentive service. 

Third, our partners can provide a side-by-side comparison of your current plan to AeroPlan 401(k). You will be able to see the cost, features, and services of both and decide for yourself. No obligations.

How can I learn more about AeroPlan 401(k) and adopt it for my business? 

Please contact NEXT Retirement Solutions at 800.691.9215 or nata@nextretirementsolutions.com. In order to create a plan comparison, they will need a few pieces of non-personal information about your current plan.

You may also contact NATA’s Jake Legere at jlegere@nata.aero or 703.785.5886 to get started.