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Instant Insights / Advising, Complying, Providing & Surviving in a SECURE Act World

What advisors, sponsors, and providers need to know about this game-changing retirement legislation.

Analysis

Labor expected to act quickly on Open MEPs now that SECURE is passed

The Open MEP provision, which the DOL will need to provide guidance on, could impact existing plan sponsors, not just small businesses.

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Now that the SECURE Act has passed out of the House and Senate and will become law once President Trump signs next year’s spending package tomorrow, regulators will be called on to facilitate implementation of the retirement bill’s many provisions.

One of the most critical provisions of the law—the Open Multiple Employer Plan provision—will allow unaffiliated employers to band workers under one defined contribution plan, creating economies of scale and offloading much of the fiduciary liability that sponsors of retirement plans carry today.

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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.

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