1) A retirement plan
engineered for simplicity.
RP 2201 NY 12/13
2) MULTIPLE EMPLOYER PLAN
A streamlined, efficient retirement plan to benefit businesses.
Keeping things simple can help
you manage your business
more effectively. Consider this
streamlined approach for your
retirement plan.
In today’s competitive employment landscape, a retirement plan helps attract those
individuals you want to join your organization, while rewarding those who are
already part of your team. However, sponsoring a retirement plan takes specialized
knowledge, adds administrative obligations, and imposes fiduciary requirements
on business owners. With a Multiple Employer Plan (MEP), the Adopting Employer’s
responsibilities are reduced significantly in these areas.
Ameritas Life Insurance Corp. of New York (Ameritas Life of New York), can help
you keep things simple when it comes to sponsoring a qualified retirement
plan. Our 401k ELITE Multiple Employer Plan (Plan) is a simple, efficient way to
incorporate a retirement plan into your benefits package.
Why Consider a Multiple Employer Plan?
As stated in the Internal Revenue Code, it is a retirement savings package in which
multiple businesses participate in a single qualified retirement plan. It is sponsored
by a third party, referred to as the “MEP Sponsor,” who takes on the principal
responsibility and liability for running the plan. A business that joins a MEP is
referred to as an “Adopting Employer.”
It’s efficient. A MEP saves you time. It enables your leadership team to concentrate
on managing your business, not your retirement plan.
It significantly reduces the Adopting Employer’s fiduciary responsibility. The day-to-day
fiduciary investment risk becomes the responsibility of the investment manager
retained by the MEP.
Benefits for the Adopting Employer
Many employers underestimate the time it takes to administer a retirement
plan. As an Adopting Employer in the MEP, you turn these responsibilities
over to a group of professionals who handle plan administration, investments,
and recordkeeping.
Plan Administrator Pentegra Services, Inc. (Pentegra) assumes the roles of ERISA
section 3(16) named plan administrator. Pentegra’s Board of Directors serves as the
principal fiduciary for the Plan. Pentegra is a leading retirement plan provider with
nearly 70 years of experience managing MEPs.
Investment Manager Mesirow Financial Investment Management, Inc. serves
as investment manager and ERISA section 3(38) fiduciary for the Plan with
responsibility for fund selection and ongoing monitoring of the plan’s investment
lineup. The level of ERISA section 3(38) investment fiduciary protection relieves plan
sponsors and Adopting Employers of the due diligence and ongoing monitoring of
plan investments. 1 Mesirow Financial Investment Management, Inc. is a diversified
financial services firm that has been serving the needs of its clients for 75 years.
1
The specific legal protection offered by Mesirow Financial is governed by the agreement between
Mesirow Financial and the plan sponsor. Nothing herein is intended to modify such agreement.
3) KEY
SERVICES OF
401k ELITE MEP
ADOPTING
EMPLOYER’S
RESPONSIBILITIES
Plan Design Choices
Plan Design Selection
Plan Document Maintenance
Submit Plan Contributions
Plan Conversion
and Implementation
Submit Information Requested
for Year-end Testing
Plan Recordkeeping
Secure ERISA Fidelity Bond
Rollovers
Government Reporting/5500
Distributions
Large Plan Audit (if applicable)
Participant Loans
Eligibility Tracking
Hardship Withdrawals
Qualified Domestic Relations Orders
Compliance Testing
Plan Fiduciary
Advisor Reporting
Plan Sponsor Reporting
Participant Communication
ERISA 3(38) Investment Manager
Evaluation and Selection of Investment Options
Selection of Investment Lineup
Monitoring of Investment Lineup
Performance Reporting
Plan Recordkeeper Ameritas Life of New York provides Adopting Employers and their employee participants with
easy access to their accounts through a secure website. Here participants have the ability to reallocate, change, and
rebalance their investments. The MEP is funded by an unregistered group variable annuity contract issued by Ameritas
Life of New York. This is the Plan’s funding vehicle.
Who May Benefit from a MEP?
What makes a multiple employer plan a good fit for your business? If one or more of the following factors apply,
you may want to consider a MEP:
• You have limited staff to handle the responsibilities of offering a retirement plan.
• You are concerned about your role as fiduciary.
• You are looking to outsource your retirement plan’s day-to-day details.
4) Role of the Agent/Advisor2
Your agent/advisor brings added value to you as an Adopting
Employer of the 401k ELITE MEP. Among the helpful services:
• Conducts enrollment meetings for all eligible participants when
requested by the Adopting Employer.
• Is available to meet with individual participants.
• Conducts educational seminars for participants during enrollment
meetings as requested by the Adopting Employer.
• Serves as the point person for the Adopting Employer and provides
support on day-to-day issues.
Next Steps
The MEP offers an all-encompassing alternative to the complexities businesses
face today when sponsoring a qualified retirement plan.
If you currently offer a retirement plan and want to become an Adopting
Employer, here are some of the documents you need to provide:
• Copies of your plan document, adoption agreement, plan amendments,
and summary plan description
• A copy of your current 5500 filing
• A report detailing your plan’s investments and account balances
The review should take approximately three business days for plans that are
up-to-date and in full compliance. When it is complete, implementation can
begin. This includes:
• Completion of paperwork
• Plan design review
• Scheduling of enrollment meeting
• Preparation of enrollment materials
• Payroll processing for contribution submission
• Establishing the launch date
Finally, there’s a retirement plan that works for you. Whether you currently
offer a single employer plan or are thinking about adding a retirement plan,
consider 401k ELITE MEP. To find out more, please call 800-923-2732.
2
Agent/Advisor refers to agent/producer, not registered investment advisors or their representatives.
This information is provided by Ameritas®, which is a marketing name for subsidiaries of Ameritas
Mutual Holding Company, including, but not limited to: Ameritas Life Insurance Corp., Ameritas Life
Insurance Corp. of New York, The Union Central Life Insurance Company, and Ameritas Investment
Corp., member FINRA/SIPC. Ameritas Life Insurance Corp. is not licensed in New York. Each
company is solely responsible for its own financial condition and contractual obligations. For more
information, visit ameritasNY.com.
Ameritas Life Insurance Corp. of New York
Retirement Plans Division
1350 Broadway, Suite 2201
New York, NY 10018
800-923-2732
EliteMEP.com
Ameritas® and the bison design are registered service
marks of Ameritas Life Insurance Corp. Fulfilling life® is
a registered service mark of affiliate Ameritas Holding
Company.© 2013 Ameritas Mutual Holding Company
401k ELITE Multiple Employer Plan is funded by an unregistered group annuity contract issued by
Ameritas Life Insurance Corp. of New York (Form FA 64349). 401k ELITE Multiple Employer Plan
is a registered service mark of Ameritas Mutual Holding Company.
Pentegra Services, Inc. serves as the MEP sponsor. Pentegra Services, Inc.’s Board of Directors
serves as the principal ERISA fiduciary. For more information on Pentegra, visit www.pentegra.com.
Mesirow Financial Investment Management, Inc., is an SEC registered investment advisor (Mesirow
Financial). The Mesirow Financial name and logo are registered service marks of Mesirow Financial
Holdings, Inc., © 2013, Mesirow Financial Holdings, Inc. All rights reserved.
Pentegra Services, Inc. and Mesirow Financial Investment Management, Inc. are not affiliates
of Ameritas Life Insurance Corp. of New York.