A recent report from the Government Accountability Office has suggested a bit of teamwork between the IRS and the Department of Labor on the issue of multiple employer plans (MEPs), one area of ERISA guidance that remains vague and confusing to advisors and plan sponsors.
While MEPs, which serve to share the burden of pension and retirement planning between more than one employer, have become a more popular option for small companies looking to provide benefits to their employees, the GAO's report admits that they remain something of a gray area.
To facilitate a better understanding of just how widespread MEPs may be, the GAO has recommended that the DOL work to collect data on employers who participate in the plans, suggesting that EBSA take the lead in mining the data from 5500 forms to gauge the amount of activity in the MEP arena.
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