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What is a Multiple Employer Plan (MEP)?

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…

What 401(k) RESA Legislation Means for MEPs and PEPs

…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….

Congress’ Love Affair with MEPs

as increase coverage by easing the management burden for small employers. Some question these benefits. The 2012 report on MEPs by the Government Accountability Office[2] stated, Little is known about the characteristics of private sector multiple employer plans (MEP), especially information regarding the employers that…

3(16) Fiduciary Outsourcing. It’s A No Brainer

A blog by Joe Reese, Regional Director, Pentegra When does 3(16) outsourcing make sense for an employer? How do you determine whether an employer is a good fit for this type of arrangement? In recent conversations with advisors, the frequency of these questions made me…

“Ten Years, 300 New Clients: A MEP Strategy”

Multiple Employer Plans (MEPs) are both brand new and very old. The most venerable MEPs are nearly a century old and still going strong, with billions of dollars in assets. The newest MEPs are nimble, custom, community-based programs founded by like-minded employers with the help…

How Does A Cash Balance Plan Work?

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…

Is Your Company Overlooking These Common Fiduciary Duties?

belief that third-party administrators (TPAs) are handling everything for them. Smaller employers (i.e., most employers) are especially likely not to know or follow the rules. It’s easy to do—you are focused on running your business, and running your business can take priority over the day-to-day…

Frequently Ignored Fiduciary Duties

Most employers overlook many of the following duties of retirement plan fiduciaries. These are examples of ignorance more so than willful disobedience, combined with a mistaken belief that vendors are handling everything for them. Smaller employers (i.e., most employers) are especially likely not to know…

DOL Criteria for Treating a MEP as “Closed”

A blog by Pete Swisher, CFP, CPC, Senior Vice President – April 28, 2015 In Department of Labor (DOL) Advisory Opinion 2012-04A, the Department set forth six criteria as their framework for evaluating whether a multiple employer plan (MEP) can be treated as a “closed…

401(k) Plan Design and Automatic Features

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…