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people running over cliff on line drawn by giant pencil Despite their advantages, MEPs still pose potential pitfalls that must be considered. (Photo: Shutterstock)

Final rules governing multiple employer plans (“MEPs”) are now on the table, leaving many small business owners wondering both what they should do to take advantage of the new rules and what they need to consider before jumping in.

Small business owners have a wide variety of retirement planning options to choose from, but the MEP is one that can offer the chance of minimizing the fiduciary risks and administrative expenses associated with providing employees with a 401(k) savings option. Despite the fact that the expanded rules may, at first glance, seem entirely advantageous, however, MEPs still pose potential pitfalls that must be considered—and employers should also consider the evolving retirement legislation proceeding through Congress before employers leap into MEPs.

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