MEP 401k Plan Services
SPS provides TPA services for groups and associations sponsoring Multiple Employer Plans by working with our advisor, recordkeeper, and wholesaler partners.
A Multiple Employer Plan is a retirement plan structure available to more than one employer, who are members of a group or association. These employers typically benefit from lower costs for administrative and investment services due to economies of scale and reduced fiduciary liability.
The basic structure can provide each member/employer with flexible plan design options. A Multiple Employer Plan has one named entity, formally titled “plan sponsor”, responsible for regulatory requirements and filings associated with offering a retirement plan.
From the MEP installation, to employer/member Plan adoption, to Annual Administration, SPS provides A-Z administration services for organizations considering sponsoring a MEP and the employers considering joining one.
- Consultation with Association/Group on selecting right recordkeeper
- All Plan Administration Services with discounted MEP fee
- One-on-one consultation with employers/members
- ERISA Support
- Single point of contact for Plan Sponsors, Member/Employers & Participants