MEP

Sponsoring a retirement plan has now been made easy. Lessen your load. If you are a Worldwide Member, you are eligible to join the
Worldwide Members' Multiple Employer Plan to help reduce your responsibilities as a plan sponsor and allow you more time to concentrate on your business.

What is a Multiple Employer Plan?
A Multiple Employer Plan (MEP) is a retirement plan for businesses that typically have a common interest, but are not commonly owned.
These businesses are referred to as "Adopting Employers" when they elect to join the MEP. These plans can be defined contribution (DC) or defined benefit (DB) plans.

What is a Multiple Employer Plan Sponsor?
A Multiple Employer Plan Sponsor (MEP Sponsor) is the organization that holds the MEP and master contract under which Adopting Employers may adopt a retirement plan.

Your responsibilities BEFORE joining the
Worldwide Members' Multiple Employer Plan
Your responsibilities AFTER joining the
Worldwide Members' Multiple Employer Plan

Plan Sponsor Duties
• Design plan document and maintain qualified status
• Appoint and monitor all other plan fiduciaries
Plan Investment Fiduciary Duties
• Produce and maintain an Investment Policy Statement (IPS)
• Select investment platform meeting ERISA "Prudent Person" standards
• Conduct quarterly Investment Committee meetings
• Review and document investment returns, fees, expenses and comparisons to
peer group
• Monitor status of all investment options and remove or replace as appropriate
Operational Plan Administrator Duties
• Determine participant eligibility
• Conduct enrollment and educational meeting
• Send out enrollment packets including Summary Plan Description (SPD), 404(c)
Compliance Information, Qualified Default Investment Alternative (QDIA) and
Explanation of Expenses
• Comply with ERISA Section 2550, 404(c) provisions for participant communication,
including but not limited to:

- Notice to participants of intention to comply with 404(c)
- A description of investment alternatives available in the plan
- General description of the investment objectives and risk and return
characteristics of each alternative
- A description of the annual operating expenses of each designated
investment alternative
- Copies of prospectuses, financial statements and reports provided to the plan
• Address specific participant requests and/or instructions in compliance with 404(c)
• Administer participant loans in compliance with statutory requirements
• Send out Participant Termination packets
• Administer distribution and rollover requests for terminated employees
• Administer hardship withdrawals in compliance with the Hardship Rules, included in
new provisions of PPA of 2006
• Oversee annual census reconciliation with TPA
• Review and validate compliance testing
• Provide for annual audit of the plan
• Oversee and manage process, in conjunction with TPA, for annual filing of Form 5500
• Send out required year-end notices to participants (i.e. Safe Harbor, Summary Annual
Report/SAR)

• Select customized plan design options to meet your business needs

• Serve as a co-adopter of the plan

• Submit 401(k) file each pay period

• Deposit contributions on a timely basis

• Provide final annual census and payroll data for testing and audit purposes

 
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©2012 WORLDWIDE DISTRIBUTORS • 8211 SOUTH 194TH • KENT, WA 98038 • P: 253-872-8746 • F: 253-872-7603