Broker Check

Multiple Employer Plan Option

The Multiple Employer Plan (MEP) Solution

Liability Reduction

  • Transfer fiduciary liability to the Multiple Employer Plan Sponsor
  • Fiduciary Services
    -  3(16) Administrative
    -  3(21) and/or 3(38) Investment Services
  • Participant notices/fee disclosure documents are responsibility of the MEP Sponsor

Administrative Relief

  • Relief of annual compliance responsibilities:
    -  Data collection/Testing
    -  IRS filings 5500 form
  • Timely deposits of contributions
  • Loans and distributions are processed internally

Expense Reduction

  • Economies of scale; a multi-million-dollar retirement plan has built-in pricing advantages
  • Result: An overall client reduction in billable plan expenses
  • Eliminate the expense and headache of the annual plan audit. This can be a $10,000-$20,000 savings annually

MEP Flexibility

  • Plan provisions:
    -  Eligibility
    -  Match
    -  Vesting
  • Education and Investment information delivered to each client company by a licensed Financial Advisor
  • Retirement readiness tools:
    -  Onsite/Online/Video