Complementary ‘SECURE 2.0’ Legislation Introduced in Senate
The introduction of the Improving Access to Retirement Savings Act could be a key step toward eventual passage of retirement reforms that build on the momentum of the SECURE Act.
Tag: MEPs
TRA Releases E-Book on Group 401(k) Plans for Advisers
It focuses on MEPs, PEPs and aggregation programs.
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.
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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.
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.
ERISA Excessive Fee, Self-Dealing Suit Targets MEP
Pentegra Retirement Services and other plan fiduciaries are accused of failing to make sure fees are reasonable and acting in Pentegra’s, not plan participants', interest.
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MEPs and PEPs
Effective means to broaden retirement plan access.
More Guidance to Come About SECURE Act Provisions
Bradford P. Campbell, with Drinker Biddle, recently discussed specific requirements for open MEPs, now called pooled employer plans (PEPs), included in the SECURE Act.
IRS Announces Public Hearing on Proposed MEP Rules
Allowing open MEPs is a key component of the Setting Every Community Up for Retirement Enhancement Act (SECURE Act)—a bill remains stalled in the U.S. Senate.
Corrections Made to ‘One-Bad-Apple’ Rule Proposal for MEPs
In July, the IRS proposed regulations that would provide an exception, if certain requirements are met, to the application of the “unified plan rule,” what the industry refers to as the “one-bad-apple rule,” for MEPs.
For a Limited Time, MEPs Can Fix This Form 5500 Mistake
In a new Field Assistance Bulletin, the DOL addresses a set of common errors made by multiple employer plans as they attempt to comply with a reporting rule introduced in 2014.
Proposed Regs Would Provide Exception to One-Bad-Apple Rule for MEPs
A final rule would take care of one item being considered in legislation proposing the ability for employers to join open multiple employer plans (MEPs).
Small Business Owners Prefer Financial Service Companies to Manage Retirement Plans
Eighty-nine percent of small employers surveyed said they have a high level of trust in retirement plan providers, compared to 53% for state governments.
IRI’s Latest Advocacy Blueprint Aligns With Many Provisions of RESA
This year, the IRI has also issued a state advocacy blueprint calling on states to focus on educating individuals about the importance of retirement planning and encourage federal policymakers to enact proposals expanding access to private-sector retirement plans.
Passage of Open MEP Legislation Means Major Change for Retirement Plan Industry
Speakers during a webcast said passage of legislation to allow for open MEPs will be a disruptor affecting nearly all stakeholders in the retirement industry, including broker/dealers and advisers.
Industry Groups Urge DOL to Expand MEP Proposed Rule
Several commenters argued that without changes, the proposed rule would have little impact on expanding retirement plan coverage for American workers.
Pentegra Makes 403(b) MEP Available to Advisers Nationwide
The expanded distribution of the program seeks to take advantage of the Department of Labor’s recent focus on expanding MEP coverage, the firm says.
DOL Seeks to Expand Access to MEPs and ‘Association Retirement Plans’
These plans allow small businesses to join together to offer defined contribution retirement savings benefits.