The DOL issues opinions on "open" multiple employer plans

Description

Abstract: Earlier this year, the Department of Labor (DOL) issued two advisory opinions that address the legitimacy of "open" multiple employer plans (MEPs). An open MEP acts as plan sponsor and plan administrator under ERISA of a single plan under which unrelated employers participate. This article discusses the DOL’s conclusion that an "open" MEP isn’t a single retirement plan under ERISA. Citation: DOL advisory opinions 2012-03A and 2012-04A