A Multiple Employer Plan, or “MEP”, is a retirement plan that is maintained by two or more unrelated employers that are not members of the same controlled group. Employers are characterized as “Adopting Employers” when they elect to participate in the MEP. MEPs can be…
…with the DOL’s long-standing views on independence[4] and “control in fact”[5] by adopting employers. An uncompensated lead employer (in a related group of employers) or a membership association acting as a fiduciary are also tried-and-true structures. A PEP could presumably follow these approaches with confidence….
…that respondents anticipate will be involved in the formation and ongoing operation of PEPs. This document also requests information on similar issues involving multiple employer plans sponsored by employer groups or associations or professional employer organizations (referred to herein as “MEPs”). The Department of Labor…
…is to make sure that the 5500 is accurate and complete. Small employers – those with less than 100 workers – are exempt from that requirement. For years, employers in the same industry have been able to form multiple employer plans (MEPs), which can help…
…student loan debt in a way similar to the Student Loans Act, which also expired last year without action being taken. (It should be noted that RESA 2019 also would expand multiple employer plans and eliminate other restrictions in an effort to make them easier…
We have long touted the benefits of multiple employer plans, or MEPs, which can provide a cost-effective way of managing a retirement plan. As its name indicates, MEP adopters are a number of employers who are involved in “commonality,” or the same line of business….
…to career average traditional defined benefit plans. Employers typically find they can get “more for less” by providing a more easily understood and appreciated benefit at a lower cost. FLEXIBILITY – Plan features afford the employer maximum flexibility and can be designed to meet both…
…Pentegra has essentially been doing this sort of thing, running multiple employer plans, for the past several decades. We know the ins and outs of managing these kinds of plans, which includes paying strict attention to ERISA guidelines – something neophytes may not be able…
…There appears to be no shortage of federal legislation being considered that could have major impacts on the retirement plan industry. The White House has issued an Executive Order that seeks the removal of some of the obstacles to certain types of open multiple employer…
…As with the Multiple Employer Plan (MEP), the economies of scale allow the participating employers to charge lower fees than traditional plans. Both models are designed to benefit small businesses who otherwise might struggle to afford a traditional plan. What is different is that, with…
…increasingly have been turning to Multiple Employer Plans (MEPs) to alleviate these concerns. A MEP relieves the employer of full fiduciary responsibility – an area where a given credit union may not have the necessary expertise; shifts administrative duties to the provider; and benefits both…
An automatic contribution arrangement (also known as automatic enrollment) is a feature in a retirement plan that allows an employer to “enroll” an eligible employee in the employer’s plan unless the employee affirmatively elects otherwise. “Enroll” in this context means that part of the employee’s…