Pooled Employer Plans For Plan Providers

Ary Rosenbaum
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It took Moses 40 years to lead the Israelites from slavery in Egypt to the Promised Land. It took 8 ½ years to move on from the Department of Labor’s (DOL) unfortunate advisory opinion that required Multiple Employer Plans (MEPs) to have commonality among adopting employers in order for it to be considered a single employer plan for ERISA and Form 5500 purposes. The SECURE Act changed that with the creation of a Pooled Employer Plan (PEP). Many people suggest that PEP is the greatest thing since sliced bread, even though it really isn’t. While the date for PEPs starts on January 1, this is something you might consider in offering as a plan provider. I’ll give you the highs and lows, it’s up to you to decide this is something worth getting into.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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