In broadening employereligibility for MEPs to include locality, the DOL proposalintroduces the prospect of chambers of commerce as sponsors ofretirement plans for their members. (Photo: MikeScarcella/ALM)
The Labor Department's proposal to increase sponsorship ofworkplace retirement plans by expanding accessto multiple employer plans does not remove the existing commonalityrequirement for employers to join a MEP.
But it does significantly broaden the circumstances thatdetermine whether employers have “sufficient commonality ofinterests” to pool employers under one defined contribution plan, according to theproposal, released today.
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