Securian Financial Adds Open Multiple Employer Plan to Portfolio of Retirement Plan Solutions
MEPconnect™ is Securian Financial’s new open multiple employer plan. A MEP is a type of retirement vehicle maintained as a single plan while allowing multiple, unrelated employers to participate, achieving economies of scale typically only attained by larger plans. MEPs operate similar to traditional single employer retirement programs but with the majority of the administrative and fiduciary duties outsourced to retirement professionals—minimizing the adopting employer’s involvement while maximizing fiduciary protection.
“As much as they’d like to offer it as a benefit to their employees, many small business owners know that sponsoring a retirement plan can take specialized knowledge and add time-consuming administrative and fiduciary obligations to their already busy workload,” said
- The Platinum 401(k) assumes the role of the ERISA 3(16) Plan Administrator and principal fiduciary for administrative functions of the plan.
- Fidelis Fiduciary Management serves as the ERISA 3(38) Investment Manager, taking full fiduciary responsibility and discretion regarding the selection and monitoring of investments offered under the plan.
“We're thrilled to be teaming up with
ABOUT
At
Since 1880, we’ve been here for those who see family as their most valuable asset. Our longevity is a testament to the strength of our company. We’ve weathered economic ups and downs while staying true to our customers. We’re not publicly traded, so we can focus on you and what you care most about. We believe your financial picture should support the everyday moments as much as the major milestones. That’s why our insurance, investment and retirement solutions give you the confidence to focus on what’s truly valuable: banking memories with those who matter most.
ABOUT THE PLATINUM 401k
Founded in 2010, The Platinum 401k, Inc. is one of the financial service industry’s most experienced multiple employer plan administrators and consultants. Their team of professionals brings over 50 years of multiple employer plan administration experience to their clients.
ABOUT FIDELIS FIDUCIARY MANAGEMENT
Fidelis Fiduciary Management is one of the few ERISA fiduciary firms to be CEFEX® certified* by the
ERISA 3(16) and 3(38) fiduciary services for MEPconnect are provided by The Platinum 401k, Inc. and Fidelis Fiduciary Management, respectively. Neither The Platinum 401k, Inc. nor Fidelis Fiduciary Management are affiliated with
*CEFEX is an independent, global assessment and certification organization providing comprehensive assessments as measures of risk and trust-worthiness of investment fiduciaries and service providers. A CEFEX assessment includes reviews of an organization’s practices by an Independent Accredited Investment Fiduciary Analyst (AIFA™). The assessment is documented by the AIFA and subject to review by the CEFEX Registration Committee comprised of independent fiduciary experts. A CEFEX registration is an independent recognition of a Service Provider’s conformity to the ASPPA Retirement Plan Service Provider Standard of Practice. It demonstrates that a Service Provider demonstrates adherence to the industry’s best practices, and is positioned to earn its clients trust. The Scope of the Registration is “Recordkeeping and Third Party Administration services for 401k, profit sharing, money purchase and defined benefit plans.” The Standard of Practice is published by CEFEX and the
DOFU 5-2017
516297
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