Vestwell’s VP of Business Development, Elsa Chan, recently wrote an article about the important choices that companies face when selecting a retirement plan.
With MEP resurfacing as PEP in a recent legislation proposed by Rep. Vern Buchanan (R-FL), a lot of advisors have asked me about MEP. I wrote this blog to open a dialogue with advisors and other industry stakeholders who are considering a MEP/PEP.
History of MEP
One-third of Americans have $0 saved for retirement. As many as 76 million people work for companies that don’t offer retirement benefits, according to the Employee Benefits Research Institute. Yet according to AARP, workers are 15 times more likely to save when they have access to a retirement plan.