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December 2019  Volume 17, Number 12        

This Just In ...

Small Employers Can Now Band Together to Offer Retirement Plans

A new U.S. Department of Labor (DOL) rule enables small businesses the opportunity to offer benefit packages comparable to those provided by large employers.

The rule went into effect Sept. 30. Small businesses may offer retirement savings plans through Association Retirement Plans (ARPs). This opens the door to "closed" Multiple Employer Plans (MEPs) by associations, trade groups, chambers of commerce, Professional Employer Organizations (PEO) and others sponsoring retirement plans.

Associations of employers in a city, county, state, or a multi-state metropolitan area; or in a particular industry nationwide can now offer ARPs.

A MEP is a group retirement plan operated by two or more unrelated employers. A closed MEP is a recognized arrangement sponsored by a group or association, while an open MEP is not recognized or sponsored by a bona-fide group or association. A PEO is a human-resource company that contractually assumes certain employment responsibilities for its employer clients.

The DOL released the rule in response to President Donald Trump's Executive Order 138547, "Strengthening Retirement Security in America."

The DOL estimates that as many as approximately 38 million private-sector employees in the United States do not have access to a retirement savings plan through their employers.

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In this issue:

Small Employers Can Now Band Together to Offer Retirement Plans

President Trump Issues New Health Coverage Responsibilities for Employers of Immigrants

How Employers Can Avoid FMLA Pitfalls

When is Indemnity Health Insurance an Acceptable Alternative to a Fully-Insured Plan?

Are Your Workplace Policies Up to Date about Vaping?



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