To borrow a currently favorite phrase, open MEPs are in the “best interest” of nearly every plan sponsor. (Photo: Fotolia)

Pity the poor plan sponsor.

Unless and until Congress gets its act together and passes legislation enabling some form of universal open 401(k) MEP plans, plan sponsors will continue to suffer from the burden of hiring, monitoring, and managing third-party service providers for a business they, by the grace of ERISA, have become only accidentally acquainted with.

 

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