PEP & MEP 401k Plan Services
SPS provides TPA and 3(16) Fiduciary Administrative services for groups and associations sponsoring Pooled Employer Plans and Multiple Employer Plans by working with our advisor, recordkeeper, and wholesaler partners.
PEPs & MEPs are retirement plan structures available to more than one employer. PEP & MEP members are typically part of a group or association. With PEPs, there may not be the same level of commonality as there will be with MEPs. Participating employers benefit from lower costs for administrative and investment services due to economies of scale.
The basic structure provides each member/employer with flexible plan design options. A PEP or MEP will have one named entity, formally titled “plan sponsor,” responsible for regulatory requirements and filings associated with offering the program.
From plan installation to member/employer Plan adoption to Annual Administration, SPS provides A-Z services for organizations sponsoring a PEP or MEP, and the employers considering joining one. We offer:
- Consultation with Association/Group regarding selecting the right recordkeeper
- All Plan Administration Services with discounted MEP fee
- One-on-one consultation with members/employers
- ERISA Support
- Single point of contact for Plan Sponsors, Member/Employers & Participants
