January 1, 2024, will be 3 years of Pooled Employer Plans (PEPs). While new PEPs have been launched with lots of fanfare, I’m sure there are a few dozen PEPs that have quietly closed their doors....more
Transamerica announced that it’s partnering with Cetera Financial Group to launch a new pooled employer plan (PEP), the Cetera Advantage(k) GPS. The PEP is designed for small and midsize businesses and will be available only...more
On February 24th, the Employee Benefits Security Administration, Internal Revenue Service, Treasury, and Pension Benefit Guaranty Corporation (together, “the Agencies”) released Final forms revisions and Final Rules related...more
The idea that we can have 403(b) Pooled Employer Plans is great news because what could work well for 401(k) plans, may mean great stuff for 403(b) plans. The problem with 403(b) plans has always been in the non-ERISA space,...more
The Senate ushered in the New Year with a bang by passing SECURE 2.0 on December 22, 2022. SECURE 2.0 includes many updates to the sweeping changes brought about under 2019’s original SECURE Act legislation...more
The Senate ushered in the New Year with a bang by passing SECURE 2.0 on December 22, 2022. SECURE 2.0 includes many updates to the sweeping changes brought about under 2019’s original SECURE Act legislation. The following are...more
I was interviewed recently by a 401(k)-centric website about smaller plans. When I first started in 1998, there was a tremendous bias from a small start-up plan. So many plan providers didn’t want the business and these...more
The FCC has updated its Emergency Alert System (EAS) rules to make emergency alerts easier for the public to understand and more accessible to those with certain disabilities. EAS messages are currently transmitted using...more
We’ve had pooled employer plans (PEP) since January 1, 2021, and. with the weekly press releases on new PEPs, I’m just wondering how many PEPs are already dead...more
While large financial institutions with significant expertise in retirement plan administration are widely expected to sponsor most pooled employer plans (PEPs), other firms (such as franchisors, gig economy employers, joint...more
I have worked with several associations in setting up a multiple employer plan (MEP) and even more associations that didn’t want to start one. ...more
Pooled Employer Plans (PEPs) are in my mind, a nice product. For most of the time, it’s not the right fit. So I don’t understand why anyone would create a PEP for a niche purpose, such as a commitment to ESG investments. Do...more
The Ways and Means Committee approved proposals for portions of the reconciliation bill, among them a plan to strengthen retirement savings, which might be a boost for pooled employer plans (PEPs)....more
Whether it’s a single employer plan, a multiple employer plan (MEP), a pooled employer plan (PEP), or a plan provider, they can always be a target for ERISA litigation....more
The original Highlander is kind of a silly movie, with the tagline “there can be only one.” I do like the fact that Sean Connery is in it and the fact I was in the crowd at the Pro Wrestling USA card at the Brendan Byrne...more
With January 1st past us, we knew that many plan providers were going to launch Pooled Employer Plans (PEPs). I know, because I helped launch four and still in the process of converting two multiple employer plans (MEPs) into...more
The education industry, like many others, saw a fundamental shift in 2020 as remote learning challenged some of the long-held traditions of institutions, educators, and related companies. From federal support of reopening...more
If I got $5 for every time an advisor or other plan provider told me they had an in with an association, I’d probably have enough to pay my mortgage. The problem. Having an in doesn’t mean that advisor or plan provider can...more
One of the quirks with pooled employer plans (PEPs) is the need for a corporate trustee. The only problem is that most trust companies have been ill-prepared to take on that task, in terms of contracts for PEPS...more
In terms of the 401(k) plan business, I think the hype over pooled employer plans (PEP) will be the most over hype since the release of Crystal Pepsi....more
I have spoken to many third-party administrators (TPAs) regarding Pooled Employer Plans (PEPs) and many are hesitant to offer them. ...more
Starting in January, unaffiliated employers can band together and participate in a new type of collective retirement plan, called a “pooled employer plan” or PEP. PEPs are expected to be attractive to plan sponsors because of...more
The story of the year has been the coronavirus. COVID-19 has dominated news headlines, social media, and virtually every aspect of our lives. The virus has likewise dominated legal and tax news. Lawmakers and agencies have...more
I like choice and I like the idea that there is something called Pooled Employer Plans (PEPs) in 2021 because I always liked the idea of Open Multiple Employer Plans (MEPs). Another great aspect of it is the discussion and...more
As an ERISA attorney an ERISA 3(16) administrator, I’ve been asked by many clients, advisory firms, bundled providers, and third-party administrators. Many advisory firms want their own pooled employer plan (PEP) and I think...more