SAN DIEGO – The best odds of passing legislation that would pave the way to more multiple-employer plans could lie in the huge transportation bill that expires in late spring, the moderator of a NAPA 401(k) Summit panel said Tuesday.
If that doesn't work, bipartisan legislation has already been filed in both chambers of Congress that would make it easier for small businesses to join MEPs. There's also more sweeping retirement legislation proposed by Sen. Orrin Hatch, R-Utah, that would encourage the wider use of MEPs.
Just which of these legislative approaches actually sticks remains to be seen. Either way, the aim is to get regulators to issue rules that would protect employers in a MEP should one of the other participating employers fail to comply with plan requirements.
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