Labor Department sign and building Labor's final rule notes the SECURE Act's progress,and its language on Open MEPs, which regulators say issignificantly different from their final rule. (Photo: MikeScarcella/ALM)

The Labor Department has released a final rule on MultipleEmployer Plans that it says “could” offer small businesses moreaffordable and less burdensome retirement plans, and level theplaying field for employees of small businesses by getting themaccess to lower cost savings plans.

The final rule tracks closely with last year's proposed rule inthat it stops short of creating Open MEPs, which allownon-affiliated businesses to band together to create one retirementsavings 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.