Small- and mid-sized plan sponsors could benefit from the use of Open Multiple Employer Plans or MEPs, says law firm DrinkerBiddle.
According to the firm's recent white paper, "Open Multiple Employer Plans: Tax and ERISA Considerations," there are no policies under ERISA or the tax code to prohibit the formation of such plans.
A MEP is a single retirement plan that covers many unaffiliated employers, with a centralized administrative and fiduciary structure. And even though each employer included in the plan can offer its employees different offerings, all "MEP participants are treated as the employees of all the participating employers," the report said.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
