28 Jul Top ERISA Attorney Supports Scalable Alternative for Retirement Plans
In late June 2016, ERISA attorney Robert Toth published a post on his blog, BusinessofBenefits.com, giving reinforcement to the position that retirement programs similar to TAG Resources’ The Prototype Plan™ are a more effective alternative at providing scale than the MEP platform.
Toth cites an Interpretive Briefing (Interpretive Bulletin 2509.2015-02) from the Department of Labor, which allows states to establish prototype platforms without worrying about the “commonality”, imposed by DOL’s rules, thereby allowing states to expand retirement coverage.
One final note in the Toth article, use of the plans such as The Prototype Plan™ requires separate filings by employer of 5500s and audits of large plans. While that might be viewed as a burden to some, TAG Resources takes care of filing the 5500 on behalf of all plan sponsors and audits are conducted, for the most part, in TAG’s offices and in the offices of the audit firm, not in the offices of the plan sponsors.
For additional information on The Prototype Plan™ from TAG Resources, email us at info@tagresources.com. And, to read Toth’s article in its entirety, please click here.
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