Association Retirement Plans/MEAP
Reducing work, responsibilities, and liabilities

There’s more to the fiduciary role than good intentions, or even good returns. It’s essential to ensure key responsibilities are met and to adopt a prudent process for selecting and monitoring investment options. A MEAP may offer the fiduciary protection many plan sponsors need.
Your responsibilities BEFORE joining a MEAP
Plan sponsor duties
Design plan document
Maintain qualified status
Assign and oversee all other plan fiduciaries
Plan investment fiduciary duties
Produce, maintain and follow an Investment Policy Statement (IPS)
Select and monitor an investment platform meeting ERISA “prudent person” standards
Review and document investment returns, fees, expenses and comparisons to peer group
Operational plan administrator duties
Deposit contributions and submit payroll files for upload on a timely basis
Complete annual ownership and census verification for testing purposes
Oversee annual census reconciliation with Third Party Administrator (TPA)
Oversee and manage the annual Form 5500 filing process in conjunction with a TPA
Determine participant eligibility
Conduct enrollment and educational meetings
Administer participant loans
Verify termination dates and vesting, and send out participant termination packets
Administer distribution and rollover requests for terminated employees
Administer hardship withdrawals
Review and validate compliance testing
Send out enrollment packets, including summary plan description
Investment Alternative (QDIA) and annual participant fee disclosure
Your responsibilities AFTER joining a MEAP
Initial choices
Sign initial paperwork agreement
Select customized plan design options to meet your business needs Ongoing duties
Deposit contributions and submit payroll files for upload on a timely basis
Periodically monitor the Program and any third parties managing administrative and fiduciary tasks to ensure plan provisions are being carefully administered
Complete your annual ownership and census verification for testing purposes
Ongoing duties
Deposit contributions and submit payroll files for upload on a timely basis
Periodically monitor the Program and any third parties managing administrative and fiduciary tasks to ensure plan provisions are being carefully administered
Complete your annual ownership and census verification for testing purposes

Three questions to consider:
1. How much responsibility for “managing your own plan” do you really want?
2. How much of the plan liability do you want to keep?
3. Does it make sense to outsource, so you can focus more on your business and less on your 401(k)?
A MEAP is designed to free up your time and preserve important flexibility, so you can focus on running your business — and it all starts with the right plan design
A tailored plan design that represents your goals and your people
The right plan design is an essential part of meeting retirement goals for your business and your employees. This program allows you to customize a plan to help you do just that.