401K MEAP Program
What is a Multiple Employer Aggregation Program (MEAP)?
A Multiple Employer Aggregation Program (MEAP) is a qualified retirement plan adopted by multiple employers through their association with the sponsoring organization, which acts as the lead sponsor. The MEAP is designed to gather the plan’s important administrative, recordkeeping and fiduciary services to be overseen by a third party, which allows the plan sponsors who participate to outsource many responsibilities that come with running a retirement plan, and often, helps reduce costs.
Why consider joining a MEAP?
Because every business owner tells us the same thing: They want a retirement plan solution that...
They want to focus on their business — they don’t want to be a 401(k) expert.
Solution:
The MEAP can become their 401(k) department, performing most of the administrative tasks for their plan, including handling their regular contribution files.
They don’t want to be at risk of paying fines or penalties.
Solution:
By joining a MEAP, employers can avoid much of the compliance concerns that come with offering their own plan. While their role as plan fiduciary still exists, many specific tasks
transition to the Program.
The employer’s ongoing role is to oversee the various parties dedicated to the plan to
ensure it operates as expected.
They don’t want to overpay.
Solution:
The MEAP delivers more value and services - potentially at similar or less cost than they are already paying. And, as plans grow, they’re reviewed regularly for price reductions.
Ready To Sign Up?
Contact:
Donny Sheinwald, AIF
Regional Sales Director, Lincoln Financial
Retirement Plan Services
Program Provided By
