It's so tempting to view 401(k) MEPs as a panacea. They aren't. I know – I'm a survivor.
Before we get into that, let's review the misconception many people have about the SECURE Act when it comes to the 401(k) MEP (or "PEP" if you prefer). Yes, the legislation did remove the much hated "one bad apple" rule. It did not, however, cure all that ails the MEP (see "Exclusive Interview: Ary Rosenbaum Says, Despite SECURE ACT, Some 401k MEPs Challenges Remain," FiduciaryNews.com, January 22, 2020).
You may ask how I know this.
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