NAPA Net - Polling Places 062218

Are You (Ready to be) Working With MEPs?

Multiple Employer Plans, or MEPs, have enjoyed bipartisan support on the Hill – and have even been included in various legislative proposals – but the legislative/regulatory “sanction” for so-called “open” MEPs remains elusive.

This week, we’d like to know about your experience(s) - and/or expectations.

Question Title

* 1. Are you currently working with Multiple Employer Plans (MEPs)?

Yes, but only closed MEPs.

Yes, but only "open" MEPs.

Yes, both open and closed MEPs

No.

Something else (please specify)

Question Title

* 2. If you're not working with MEPs at present, would you like to be able to in the future?

Yes.

Probably.

Not sure.

Depends on the client.

No.

Something else (please specify)

Question Title

* 3. What do you think is the biggest advantage in offering MEPs?

Combined assets/lower fees.

Simplified plan audit.

Administrative efficiency

Reduced fiduciary liability

I don't see any particular advantage - it's all a marketing ploy.

Something else (please specify)

Question Title

* 4. Do you think open MEPs will expand access to retirement plans?

Probably not.

Definitely!

No, but it should make things better/less costly for plans already in existence.

I've no earthly idea.

Something else (please specify)

Question Title

* 5. The Retirement Security for American Workers Act (H.R. 854) provides for MEPs, but wouldn't require smaller employers to retain fiduciary responsibility for selecting or monitoring the MEP provider. How do you feel about that?

I don't have an issue with it.

I think it's a good idea - smaller employers shouldn't have to worry about that, and aren't really capable of making that evaluation anyway.

I think it's got the potential to put retirement savings at risk.

Hadn't really though about it.

This would be a big problem.

Something else (please specify)

Question Title

* 6. Other comments about MEPs, open MEPs, the Labor Department's traditional position on MEPs, the likelihood of legislation to expand MEPs, the likely response of employers to the option once sanctioned, or life in general?

Question Title

* 7. What is your role working with retirement plans?

Advisor

Provider

TPA

Plan sponsor

Recordkeeper

Other (please specify)

Question Title

* 8. What size plans do you PRIMARILY work with?

Under $10 million in assets

$10-$20 million

$20-$50 million

$50-100 million

$100 million - $250 million

$250 million - $500 million

Above $500 million

Other (please specify)

Question Title

* 9. Suggestions for future survey questions?

Question Title

* 10. All responses are anonymous and confidential, of course - but if you'd like me to know who you are, or allow for a response, you can leave your email below...