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Will association fear hold back 401(k) MEPs? – Carosa

There’s a pot of MEP gold at the end of the rainbow for all parties, but trade associations must take that brave first step to get it.

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Two trees sharing a nest of golden eggs Sometimes, getting ahead means venturing through a forest of unknowns. That’s where we’re at – or soon will be – when it comes to 401(k) MEPs. (Photo: Shutterstock)

“Take your medicine, you’ll feel better.” “Eat your peas, you’ll get stronger.” “Use this new shortcut, you’ll get there faster.” Sometimes getting ahead means venturing through a forest of unknowns. That’s where we’re at – or soon will be – when it comes to 401(k) MEPs.

Once the IRS finalizes its fix for the “one bad apple problem,” it’ll be open season for trade associations, Chambers of Commerce, and other affinity groups to offer 401(k) MEPs to their member companies. Of course, to do this, they’ll need to become the plan sponsor.

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Christopher Carosa

Christopher Carosa

Chris Carosa has been writing a weekly article and monthly column for BenefitsPRO online and BenefitsPRO Magazine since 2011 and is a nationally recognized award-winning writer, researcher and speaker. He’s written seven books, including From Cradle to Retire: The Child IRA; Hey! What’s My Number? – How to Increase the Odds You Will Retire in Comfort; A Pizza The Action: Everything I Ever Learned About Business I Learned By Working in a Pizza Stand at the Erie County Fair; and the widely acclaimed 401(k) Fiduciary Solutions. Carosa is also Chief Contributing Editor of the authoritative trade journal FiduciaryNews.com and publisher of the Mendon-Honeoye Falls-Lima Sentinel, a weekly community newspaper he founded in 1989. Currently serving as President of the National Society of Newspaper Columnists and with more than 1,000 articles published in various publications, he appears regularly in the national media. A “parallel” entrepreneur, he actively runs a handful of businesses, including a small boutique investment adviser, providing hands-on experience for his writing. A trained astrophysicist, he also holds an MBA and has been designated a Certified Trust and Financial Advisor. Share your thoughts and story ideas with him through Facebook (https://www.facebook.com/christophercarosa/)and Twitter (https://twitter.com/ChrisCarosa).

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