PBGC Director Says Legislation Needed to Help Multiemployer Plans
The agency's Fiscal Year (FY) 2020 Annual Report shows its multiemployer insurance program will become insolvent sometime in FY 2026.
Tag: multiple employer plans (MEPs)
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.
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...
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...
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.
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.
Fund Argues Court Decision Shields PE Firms From Multiemployer Plan Withdrawal Liability
The New England Teamsters and Trucking Industry Pension Fund, in its long-running legal attempt to collect withdrawal liability, has filed a petition with the U.S. Supreme Court.
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...
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...
PBGC Reports Dire Situation for Multiemployer Program
The single-employer program, however, has continued to improve since its emergence from a deficit.
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...
DOL Issues Final Association Retirement Plans Rule
In addition to the final ruling, the department has also released a 16-page request for information (RFI) on open MEPs.
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...
Changes the Retirement Plan Market Could See With Open MEPs
For retirement plan advisers, passage of open MEP legislation could change relationships with plan sponsors and providers, as well as...