DOL on verge of issuing MEP guidance


Six years since the Department of Labor (DOL) advisory opinion that required commonality between adopting employers of the multiple employer plan (MEP) in order for the MEP to be considred a plan, the DOL failed to issues guidance on MEPs. Yet when the President talks, the DOL listens.


The DOL is set to formally propose a rule seeking to expand access to workplace retirement plans, less than a month after President Donald J. Trump issued an executive order calling on the agency to do so. The DOL just dropped off a proposed rule to the Office of Management and Budget (OMB).


The text of the DOL rule must undergo a review by the OMB (for financial impact) before it’s released publicly and made available for comment. The rule would be finalized after the DOL weighs public comments.



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