Good intentions — even good returns — aren’t enough when it comes to meeting plan sponsors’ fiduciary responsibilities. Liability can extend beyond investment losses. A prudent process to select and monitor investment options is essential. A Multiple Employer Plan (MEP) — a retirement plan for businesses that typically have a common interest but are not commonly owned — may offer the fiduciary protection many plan sponsors need.
Small employers rank meeting fiduciary responsibilities among the top concerns related to sponsoring a retirement plan. Just as plan sponsors strive to protect employees’ best interests, The IMA 401(k) can help protect plan sponsors by facilitating their membership in an MEP.
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