WHAT IS A MULTIPLE EMPLOYER PLAN (MEP)?
Many of our clients are small companies that have neither the time, the buying power nor the knowledge to negotiate the best deal for their 401k participants. Our firm has created a multiple employer plan (MEP) run by a trust company, where we can aggregate the assets from a number of small plans to buy large plan benefits and services on a small plan budget. Under an APD MEP, current Plan Fiduciaries can transfer most of their personal liability to the MEP Trust Company, negotiate costs (service and investments), based on the aggregate MEP assets, have access to a Trust audit and exceptionally low individual audit costs, while enjoying direct access to top and unique investments thereby bypassing the layers of profitability of bundled insurance company or mutual fund providers.
Resources:Open Multiple Employer Plan