By one expert's read, theproposal is the largest expansion possible given Labor's limitedauthority, which regulators reference in the document. (Photo:Shutterstock)
The Labor Department's proposal to broaden access to workplaceretirement plans by way of Multiple Employer Plans does not includea pathway for so-called Open MEPs, which allow small businessowners with no shared business association or interest topool workers under one defined contribution plan.
The proposal aims to clarify a 2012 sub-regulatory action by theObama administration that required employers to share commonality,or a nexus, such as membership in a trade organization, in order tobenefit from the full administrative and fiduciary relief MEPspromise.
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