Providers of open MEPs are likely to create many different versions, and it has yet to be determined how much fiduciary responsibility plan sponsors will shoulder, MassMutual says
Tag: open multiple employer plans
The SECURE Act could make ‘open’ MEPs a reality—and a benefit to advisers if they are proactive.
Two-thirds of small businesses that currently do not offer a retirement plan say that they would consider doing so through an open MEP, Empower learned in a survey.
A trio of bills introduced before the House Ways and Means Committee this week offer the first detailed look at Republican Congressional leaders’ hopes for “Tax Reform 2.0,” which include many initiatives supported broadly by retirement industry stakeholders.
The president on Friday signed an executive order directing the Treasury Department to reassess required minimum distributions from 401(k) plans and ordering DOL staff to explore the possibility of allowing small businesses to join open multiple employer plans.
Securian Financial provides recordkeeping services and an investment platform for the solution designed for small and mid-sized employers, along with easy access to account tools and resources through a secure website, and it has teamed up with two other industry professionals to provide fiduciary services.