When the SECURE Act was marked up by the Ways and Means Committee last month, committee members professed the intention to consider a second retirement bill before August. (Photo: Shutterstock)
The Open Multiple Employer Plan provisions of the SECURE Act, which passed in the House of Representatives this week on a nearly unanimous vote, do not extend to not-for-profit 403(b) defined contribution plans.
But industry sources, both on and off the record, are indicating that lawmakers are intent to extend the Open MEP retirement plan model to non-profits.
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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.
