Legislative and Judicial Actions
Court Finds Employer Has No Standing to Sue Over Multiple Employer Plan Fees
The employer claimed it had standing because the actions of ADP and others put it under threat of being sued over allegedly excessive fees and poor investments.
Notice of Proposed Rulemaking Updates MEP ‘One Bad Apple’ Rule
New regulations would apply to multiple employer plans that are either maintained by employers that have a ‘common interest’ or have a ‘pooled plan provider.’
PEPs’ Predicted Growth
Once They Catch On, PEPs Could Grow Exponentially
Lawsuit Against MEP Takes Issue With Share Classes, Revenue Sharing
Fiduciaries of the multiple employer plan of professional employer organization (PEO) Nextep, Inc. are being sued over excessive investment and recordkeeping fees.
Principal to Launch Pooled Employer Plan
With its PEP, the firm plans to simplify plan administration and reduce fiduciary risk to help more businesses offer a retirement plan.
Retirement Industry Experts See Tremendous Promise for PEPs
Many say they think the pooled employer plans authorized under the SECURE Act will open more doors for small businesses.
Stakeholders Want More Substantive PEP Guidance from DOL
Though they applaud the direction the Department of Labor is taking, expert ERISA attorneys say a new proposed rule does not sufficiently explain how pooled employer plans can be structured like existing multiple employer plans.
Half of Small Businesses Have Researched Offering a 401(k)
But 55% decided to take no action.
Open MEP Opportunities
Compliance News
BlackRock Calls for Expanding Access to Retirement Plans
One measure is to encourage MEPs by eliminating the “nexus” requirement.
Americans Support Retirement Security Public Policy
Eighty percent of American workers surveyed said they would like to hear congressional candidates discuss retirement security.
IRI Issues Retirement Security Blueprint
The detailed report is aimed at expanding opportunities to save and increasing access to lifetime income products, among other efforts.