Multiple Employer Plans Reduce Employer and Personal Fiduciary Liability.
Companies of Any Size Qualify to start Savings Programs
It can be challenging for small business employers to set up and maintain a retirement plan for their employees that is cost-effective, has low administrative hassle, and mitigates employer fiduciary responsibility. That is where multiple employer retirement (MEP) plans become the perfect fit. MEPs harness the economies of scale of multiple companies and leverage their collective strength in ways that a single employer could never do on their own.
Companies of any size (even those with just one employee!) qualify to start a 401(k). A retirement program has some of the lowest costs of any benefits program a small business owner can offer. Talent goes where it’s appreciated – offering a good retirement plan helps draw qualified individuals to your company and incentivizes them to stick around. Small business owners can easily outsource retirement plan management to avoid the administrative nightmare of doing it themselves. Most importantly: employees want it!
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