FIS Relius

Since the Department of Labor issued their 2012 guidance on “open MEPs,” there have been many unanswered questions and pressure for more guidance. Open MEPs are a series of separate plans under ERISA, not a single ERISA plan. However, “closed” MEPs can still be treated as single plans under ERISA. The so-called “one bad apple rule” creates risks to participating employers, but MEPs have many potential administrative and cost advantages over single-employer plans.

The President, Congress, and the Department of Labor have all recently weighed in on the potential benefits of, and the need for changes to MEPs, and Congress has proposed the creation of Pooled Employer Plans (PEPs) as an alternative. So far, both the DOL and IRS have proposed guidance, but these steps raise their own concerns. While the timing is uncertain, the SECURE Act looks likely to bring more changes to this landscape. This seminar will review the current status of the MEPs and PEPs.

• Common multiple employer plan situations
  • Risks and Benefits
• Design strategies
• Qualification rules
  • Service
  • Compensation
  • Testing
  • Top-heavy
  • PEO-specific rules
• IRS Guidance – "one bad apple"
• DOL MEP Guidance – Past and proposed
  • ERISA status
  • 5500 Filing
    • MEP Schedule
  • Audits
  • Bonds
  • Fiduciary responsibility
• Correcting errors
• Potential legislative and regulatory changes

There are no prerequisites or other advanced preparation for this program. However, the speaker will assume that attendees understand the operation of 401(k) plans in general and have one year of experience. The speaker will not assume prior experience with multiple employer plans.

NASBA Field of Study: Taxes

Objectives: After attending this Web seminar, attendees should be able to:

1. Identify appropriate situations for MEPs
2. Determine service for eligibility and vesting
3. Calculate compensation for various purposes
4. Explain how to test the plan for coverage and nondiscrimination
5. Assist in plan design
6. Adapt to the administrative differences involving these plans
7. Explain proposed changes to MEP regulations
8. Anticipate potential legislative and regulatory changes to the MEP rules

How to participate

Please connect at least 10 minutes prior to the event to troubleshoot any issues. You will need a phone and internet access. The graphics presentation and illustrations will be viewed via the web connection, while the presenter's audio portion will be via the telephone. Important Note: The user registrant must be logged in via the internet for CE purposes. Select the "Fees" link on the right side menu of this page for more information.

System Requirements for Webex

WebEx supports both Windows and Mac operating systems. For Windows, we recommend using Internet Explorer 11 or Microsoft Edge browsers. For Mac, we recommend using Google Chrome or Mozilla Firefox browsers. For the easiest connection to the event without the need to download any additional software, try the new Webex web app by clicking on the "Join by browser" link below the login fields. Then connect by telephone as prompted.

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