The White House has yet to publish a copy of the executive order, but it is widely believed Labor will act to remove the commonality requirement and the one-bad-apple rule. (Photo: Mike Scarcella/ALM)
An executive order signed by President Trump in Charlotte, North Carolina instructs the Labor Department to craft guidance that would relax existing restrictions on Open Multiple Employer Plans.
MEPs allow groups of small employers to pool workers into one 401(k) plan, allowing them to achieve economies of scale on investment, record keeping, and administration fees and costs.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
