Under legislative proposals currently being considered in Congress, non-related, unaffiliated employers could pool employees under one defined contribution plan. A regulatory proposal being finalized by the Labor Department is more restrictive. (Photo: Shutterstock)
New research from Empower Retirement shows the majority of small business owners that do not currently sponsor a retirement plan would consider joining an Open Multiple Employer Plan.
A survey of 305 employers with five to 250 employees shows 66 percent of employers that don't have a plan would consider joining an Open MEP within the next two years.
But the option would also be attractive to small employers that currently sponsor a plan. Of the employers surveyed by Empower, 85 percent already sponsor a plan; more than two-thirds of that cohort said they too would consider migrating to an Open MEP.
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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.
