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Wednesday, November 24th, 2021
A biweekly topical newsletter from PLANADVISER
PEPs, MEPs and PPPs
Some in the retirement plan industry believe multiple employer plans (MEPs) and pooled employer plans (PEPs) will be transformational in the 401(k) space and lead to better outcomes for virtually all stakeholders. Some even argue PEPs, in particular, could eventually render single employer plans and MEPs much less valuable to employers and their people. Collected below is a series of articles on this important and evolving topic. We hope you share some of what you read with a client or colleague!
Products
July CEO Sees Promise in the PEP Marketplace
While there is still a learning curve when it comes to advisers understanding their role in the pooled employer plan marketplace, providers entering the space say the future is bright.
Compliance
How Advisers Serving MEPs and PEPs Can Be Conflicted
The most obvious potential conflict of interest for advisers setting up or serving pooled employer plans is if their practice is affiliated with the investments being selected—but there are other potential pitfalls to acknowledge.
Compliance
Familiar Fiduciary Concerns Voiced as PEP Market Takes Shape
As with any type of innovation, it should be expected that the architecture, structure and governance of PEPs will likely change over time.
Practice Management
Pooled Employer Plans and 3(38) Fiduciary Advisers
One provider getting ready to launch a SECURE Act-enabled pooled employer plan on January 1 says he is already in conversation with advisers about combining 3(38) fiduciary oversight with PEP recordkeeping and administration.
Practice Management
Practice Progress: Development of PEPs in 2021
The creation and operation of collective retirement plans has historically been a complicated affair, and while the SECURE Act has simplified key aspects of the process, some significant questions and challenges remain.
Practice Management
Gig Workers and PEPs—Coverage Lessons From the UK
One established provider of pooled employer plans in the United Kingdom says the promise of PEPs is big here in the U.S., but they might not be the ticket for solving the entire coverage gap, especially for gig workers.
Uncategorized
Once They Catch On, PEPs Could Grow Exponentially
The current hesitancy over how they will take shape will be overcome by appreciation among advisers and sponsors alike at the prospect of expanding retirement coverage, sources say.
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