The Chicago Auto Trade Association has partnered with the NADA and Financial Renaissance to offer a new benefit its 400 dealer members and their employees. Dubbed the CATA Retirement Program, the 401(k) offering combines the power of the National Auto Dealers Association’s “NADA Retirement from Empower” program and the local expertise of Chicago companies, Financial Renaissance and Correll Co.

“This partnership brings the ‘best of breed’ retirement plan solutions to all CATA dealer members,” said Joseph Orlando, CEO of Financial Renaissance. “This new model combines the power and voice of the NADA with its 16,000 members, the award-winning technology of Empower -- the 2nd largest 401(k) provider in the country and marries it with Financial Renaissance -- a Chicago-based financial services company, as the exclusive broker on the plan.”

“The power of the NADA and Empower combined with the soft, service-based, touch of local partners is a powerful advantage,” said CATA Member Benefits Committee Chairman Dan Marquardt. “These strengths, combined with enhanced 3(38) fiduciary protection and low mutual fund fees, allow the CATA members access to protections they currently may not have or may not have been eligible for in their current retirement plans.”

“Many small business owners don’t fully understand the exposure and liability their company 401(k) plans thrust upon them. We wanted to address that problem and relieve of some of that burden,” said Orlando. “That is the ingredient Correll Co. brings to the partnership.”

CATA dealers interested in learning more or seeking to schedule a plan comparison can do so by calling Joseph Orlando at 312-404-3232.