Tag: open MEPs

DOL Releases Final Rule on ‘Association Retirement Plans’

The rule will permit employers to connect with associations of employers in a city, county, state, or a multi-state metropolitan area, or in a particular industry nationwide, as well as a professional employer association (PEO), to provide retirement plans for their employees.

Open MEPs Not for Every Plan Sponsor

If legislation passes to allow for open multiple employer plans (MEPs) for plan sponsors without a common nexus, experts believe they will offer benefits to plan sponsors, but there would be some considerations to explore before joining one.

How Open MEPs Could Change the Retirement Plan Market

Not immediately, but over time, with passage of open MEP legislation, plan sponsors will see a change in service delivery, plan advisers will have to consider different distribution paths, and plan providers will experience both innovation and disintermediation.

Open MEPs Will Be a Retirement Plan Market Disruptor

If legislation allowing for open multiple employer plans (MEPs) is passed, it will be a while before implementation, and changes it will bring will affect services and business models of nearly every stakeholder in the retirement plan industry.

House Tax and Retirement Reform Bill Includes Provisions Not Included in Previous Bill

"The new legislation contains language addressing key IRI concerns including providing retirement plan participants with an illustration of how current savings would translate into an income stream in retirement and enhancements to automatic enrollment and contribution escalation features in retirement plans,” says Cathy Weatherford, president and CEO of the Insured Retirement Institute.

ERISA Attorneys Interpret DOL MEP Regulations

Industry stakeholders disappointed the proposal does not address open MEPs can take heart in the fact that DOL staff are calling for commentary on ways the proposal could be expanded, including into the area of open MEPs.

DOL’s Open MEP Proposal Advances Through OMB

If the DOL’s proposal closely follows President Trump’s executive orders, it is likely to revise the “common nexus” and “one bad apple” rules that have held back open multiple employer plans.

Barry’s Pickings: Two Cheers for Open MEPs

Michael Barry, president of October Three (O3) Plan Advisory Services LLC, says open MEPs will work up to a point, but contends that they only deal with one of the obstacles preventing small employers from adopting retirement plans.