Multiple Employer Plan
Multiple Employer Plan
A Multiple Employer Plan (MEP) is a single Qualified Retirement Plan housing multiple different “adopting employers” with common retirement savings objectives. This unique type of plan construct offers numerous advantages and administrative efficiencies when compared to a typical stand-alone plan sponsored by a single employer.
Advantages of the Prevailing MEP 401(k):
- Mitigates Fiduciary Liability: Fiduciary Liability is transferred from the employer to the corporate plan sponsor (that is fully bonded and insured).
- Cost Effective: There are no expenses direct to the employers (no startup fees, annual fees or per head fees); all fees are charged as a percentage of plan assets and these are very competitive.
- Removes Administrative Burden: Administrative burden and expense of filing the form 5500 and annual audit is transferred from the employer to the corporate plan sponsor (a significant cost savings particularly for those companies with 120+ employees).Defined Benefit Plans
- Provides Superior Investment Options: The plan offers a robust investment platform which utilizes a best in class mutual fund lineup in addition to four Patent Pending Novus Managed Allocation PortfoliosTM based on risk tolerance that utilize separately managed accounts (SMAs) and exchange traded funds (ETFs)
- Flexibility: Similar to a stand-alone plan, employers have all of the flexibility to choose plan features like participation requirements, vesting, retirement age, loans, etc.
- Strong Partners: Prevailing Asset Management, the corporate plan sponsor, has partnered with strong service providers who are rich in retirement plan experience. TD Ameritrade is directed trustee and custodian of assets, Pentegra is online administrator, and Novus Advisors is investment manager.
- Service: Local advisor available to provide personalized assistance to participants via face to face, phone or online options. Access to institutional money managers.