Sometimes what is old is new again. Over the years, clothing styles, hairstyles, political styles, movie styles, and television program styles may come back after being out of fashion. People tell my fashion styles always come back in fashion, but I do notice as a kid from the 1970s that ruffled shirts and leisure suits haven’t come back in style. Unlike ruffled shirts and leisure suits, it looks like multiple employer retirement plans (MEPs) may make a comeback. Many retirement plan providers have been touting MEPs recently and made plan sponsors think this is a new concept. MEPs have been around for years, but are only going back into style because of recent regulatory change and renewed interest. The comeback of MEPs is a positive development in the retirement plan business because it offers a choice to retirement plan sponsors on how to get a better plan at a better price while eliminating most of the liability that goes with being a plan sponsor and fiduciary. While MEPs aren’t for everyone, they are a choice for many plans to consider whether being part of a MEP outweighs the risk of being a standalone plan.
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