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.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.