Industry sources discuss the positives from the final association retirement plan (ARP) rule, but the industry will still have to wait for progress on offering plans for employers without a common nexus.
Tag: open multiple employer plans
Two-thirds of small businesses that currently do not offer a retirement plan say that they would consider doing so through an open MEP, Empower learned in a survey.
These plans allow small businesses within a business group or association to join together to offer defined contribution retirement savings benefits.
President Trump on Friday called on the Department of Labor to consider the pros and cons of allowing small businesses to jointly offer retirement plans (open MEPs).
The investment firm calls on the government to pass numerous measures to expand access to retirement plans and boost participation and savings.
The Platinum 401(k) assumes the role of the ERISA 3(16) Plan Administrator, and Fidelis Fiduciary Management serves as the ERISA 3(38) Investment Manager.
The bill would facilitate lifetime income disclosure, clarify the current annuity selection safe harbor and expand access to multiple employer plans.