Multiple employer plans
One plan, many employers. A multiple employer plan lets businesses share administration and costs while each offers employees a full-featured retirement plan.
Why employers join a MEP
Running a stand-alone 401(k) means a separate plan document, separate testing, a separate Form 5500 and often a separate audit. In a multiple employer plan, much of that work is consolidated and handled centrally, which can lower costs and reduce the burden on each business.
We administer a multiple employer plan serving retail employers across several states, so we know both the governance and the day-to-day work involved.
- For associationsOffer members a retirement benefit under one well-governed plan.
- For participating employersSimple onboarding, consolidated filings and less administrative work.
- For employeesAccess to a workplace retirement plan their employer might not offer on its own.
What we handle for a MEP
Employer onboarding
Participation agreements, adoption paperwork, payroll setup and coordination with the recordkeeper for each new employer.
Plan-level compliance
Plan document maintenance, required testing for each participating employer and consolidated Form 5500 reporting.
3(16) administration
Serving as plan administrator for the MEP, including distribution approvals, notices and deposit monitoring across employers.
Employer support
A single point of contact for participating employers' questions about deposits, eligibility and employee changes.
Exploring a MEP for your association?
We'll walk you through structure, governance and what it takes to launch.