The AGC SELECT 401(k) Plan has served AGC member contractors for 15+ years, originally as a Multiple Employer Plan and, as of 2024, as a Pooled Employer Plan (PEP) under SECURE Act rules with Empower as recordkeeper. For an HVAC or mechanical contractor that belongs to a participating AGC chapter, adopting SELECT means handing off most fiduciary responsibility to NPPG Plan Professionals (the pooled plan provider) and Baird (the 3(38) investment fiduciary) while keeping only the limited duties every adopting employer retains. That arrangement meaningfully reduces the legal exposure, audit burden, and day-to-day administration of sponsoring a standalone 401(k).
Financially, the plan leverages roughly 150 member companies, 20,000 eligible participants, and $600 million in assets to negotiate institutional share classes, eliminate individual plan audits for most adopting employers (a large SECURE Act benefit), and standardize a vetted investment lineup. Participants get one-on-one access to Baird advisors, monthly educational webinars, and on-site seminars tailored to a construction workforce, which is meaningful for HVAC field techs who rarely engage with benefits materials. Employers can still customize match formulas, eligibility, vesting, and auto-enrollment within the PEP framework.
Because eligibility is tied to AGC chapter membership, SELECT is most relevant to mechanical contractors and HVAC/sheet-metal firms that already participate in AGC for bidding, safety, and workforce development. Pricing is not published publicly; plans are quoted based on headcount and asset base, but the pooled buying power typically produces lower all-in fees than a similarly sized standalone plan, and the offloaded fiduciary responsibility is the bigger draw for many owners.