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Phyllis Borzi, Assistant Secretary of Labor of the EBSA (Image courtesy of the Department of Labor)

A few weeks ago FiduciaryNews.com published an exclusive interview with Assistant Secretary Phyllis Borzi. In that article, Borzi expressed concern about the potential for fraud and abuse in Multiple Employer Plans (MEPs). This set off a major debate among those in the know. Was Borzi suggesting MEPs are more susceptible to fraud and abuse than the typical 401(k) plan? Or was it just an innocent caveat emptor argument that could be applied to almost any possible transaction? Talking heads weighed in with their interpretations and comments (see “Industry Thought-Leaders: 401(k) MEPs as Safe as Any Other 401(k) Plan,” FiduciaryNews.com, Oct. 8, 2013). 

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