Here’s How MassMutual Is Explaining ‘Open MEPs’
October 29, 2019 by Allison Bell
A team at Massachusetts Mutual Life Insurance Company is out to show employers and financial professionals that MassMutual is a great source of information about the new “open multiple employer plan” proposals.
MassMutual today released a whitepaper that explains what open MEPs are and talks about some of the pros and cons.
The Springfield, Massachusetts-based life insurer and asset manager is positioning itself as a source of a sober, balanced assessment of a hot retirement plan concept.
Today, under current federal laws and U.S. Department of Labor regulations, employers that want to join together to sponsor a 401(k) plan or other defined contribution retirement plan must show that they have a “commonality of interest” — in other words, something more in common than that the managers breathe air, eat food, and want to offer retirement benefits.