In a recent Wealth Management article, Chief Operating Officer Rick Irace comments on the key developments that retirement plan consultants should monitor in 2019. Irace focuses mainly on recent proposals related to multiemployer plans (MEPs) and the convergence of health savings and retirement savings efforts.
“Most recently, the concept of the ‘open MEP,’ in which employers would not be required to have common ownership or business purpose, has gained some serious traction,” notes Irace. “The most recent DOL regulations stop short of permitting ‘open MEPs,’ but they do broaden the definition of an employer. This could be a step in the right direction…,” concludes Irace.