Open MEP – Pooled Employer Plans Breathe New Life In Proposed Legislation

Open MEP – Pooled Employer Plans Breathe New Life In Proposed Legislation

As reported in the article from Derren Burrell of TAG Resources, Mr. Burrell Goes To Washington, there is movement on Capitol Hill to energize the retirement plan options available to small business owners and their employees through the use of plans such as The Open MEP (TM) and Pooled Employer Plans.

Here are a few articles to give you additional information on the process and its progress:

Two Republicans and two Democrats in the Senate have introduced four new bills aimed at expanding access to workplace retirement plans and incentivizing Americans to save more.

Benefits Pro, July 2018, Bipartisan bill in Senate would make fiduciaries of service providers to Open MEPs. By Nick Thornton

In March, Reps. Mike Kelly, R-Pa., and Ron Kind, D-Wis.—along with 14 other Democratic and Republican co-sponsors—introduced H.R. 5282 in the House of Representatives. Its Senate companion, S. 2526, was introduced by Sens. Orrin Hatch, R-Utah, and Ron Wyden, D-Ore., the leaders of the Senate Finance Committee.

-Society for Human Resource Management, July 2018, Congress Weighs Last-Ditch Effort at Pooled 401(k)s. By Stephen Miller, CEBS

Current Legislation for the 115th Congress, S.3219

Late last year, Mr. Neal — ranking Democrat on the House Ways and Means Committee — introduced a couple of measures that would require most employers to sponsor automatic defined contribution plans and simplify some retirement savings rules.

-Pension & Investments, July 2018. Retirement legislation could be hot topic in 2019, conference attendees told. By Meghan Kilroy

Would “open multiple employer plans” (MEPs) or “pooled employer plans” (PEPs) encourage thousands of small employers to offer their workers a retirement plan for the first time?

-Retirement Income Journal, July 2018. Mind the Coverage Gap. By Kerry Pechter

Passionate testimony from a Teamster to the Joint Select Committee on the Solvency of Multiemployer Pension Plans appeared to outshine that from three financial experts.

-Plan Sponsor, July 2018. Stakeholders Beg Congress to Act on Solvency of Multiemployer Pension Plans. By John Manganaro

Learn about TAG Resource and The Open MEP (TM)


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