Plan Sponsor: Open MEPs Not for Every Plan Sponsor
Author: Siân Killingsworth / 10 Jul 2019
Multiple Employee Plans (MEPS in retirement speak) are a hot topic in 2019. 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.
Ubiquity Retirement + Saving CEO Chad Parks fears that “MEPs add more layers of legal complexity, which leads to higher plan costs. With more attention on fees and reasonable costs these days, we think open MEPs could go in the opposite direction and add more costs.”