Securian Financial is adding a new open multiple employer plan to its service offerings.
MEPconnect™ is Securian Financial’s new open multiple employer plan. As noted in a press release, a multiple employer plan, or MEP (not to be confused with multi-employer pension plan) is a type of retirement vehicle maintained as a single plan while allowing multiple, unrelated employers to participate, achieving economies of scale typically only attained by larger plans.
Securian Financial teamed up with two other industry professionals to complete the retirement plan for employers:
- The Platinum 401(k) assumes the role of the ERISA 3(16) Plan Administrator and principal fiduciary for administrative functions of the plan.
- Fidelis Fiduciary Management serves as the ERISA 3(38) Investment Manager, taking full fiduciary responsibility and discretion regarding the selection and monitoring of investments offered under the plan.
More information is available at https://www.securian.com/sites/securian/about-us/newsroom/news-releases/multiple-employer-retirement-solution
