MEPs can be attractive to small and midsized businesses that identify cost and administrative complexity as barriers to offering a workplace retirement plan. (Photo: Shutterstock)
The current administration has set one of its regulatory objectives to make retirement plans more accessible to the general workforce. As a result, multiple employer plans have received renewed focus from both the Department of Labor and Congress.
A MEP is a plan maintained by two or more employers that are not part of a “controlled group” under Internal Revenue Code rules.
This is different from “multiemployer” plans, which cover employees of more than one unaffiliated employer but are jointly sponsored by employers and a labor organization.
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