The DOL's proposal for retirement plans tracks closely with its regulation on Association Health Plans. (Photo: Shutterstock)
When President Trump signed an executive order making expanded access to workplace retirement plans an official policy of his administration, many in the retirement industry held out hope the Labor Department would draft a proposal certifying Open Multiple Employer Plans.
But the proposed regulation Labor released last week falls short of the bipartisan endorsement of Open MEPs in several legislative proposals currently in holding patterns on Capitol Hill.
Instead, the proposal merely loosens existing regulatory guidance on employer participation in MEPs, which allow groups of small employers to pool workers under one 401(k) plan.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
