News | 07.31.19
Maybe Insurers Could Start Multiple-Employer Retirement Plans: DOL
The Labor Department's Employee Benefits Security Administration (EBSA) has opened the door for life insurers and other financial services companies to start multiple-employer retirement plans (MEPs). Labor just completed work on a set of final regulations that encourage small employers to offer MEPs, and now EBSA is seeking comments on a related idea: letting life insurers and other commercial entities start independent, open MEPs, separate from any other association or trade group. The idea is that a financial institution's open MEP could simply offer a large number of small employers the ability to offer a pooled defined contribution retirement plan, without the small employers having to jump through hoops to do so.
Read the full article on Think Advisor