In the end, though, you must remember the PEP is brand new. Not all offerings will offer the same advantages. Some may be designed specifically to forego one advantage to emphasize another.
Tag "SECURE Act"
Here things get a little familiar for companies with pre-existing stand-alone 401k plans (but may need to be discovered by those without plans).
Here’s something you don’t always see, but maybe you should.
Today, directly or indirectly (“back door”), every wage earner can contribute to a Roth IRA. So, to benefit your (great)(grand)child through “long term investing”, you might consider funding a Roth IRA and/or Roth 401k.
“That is one of the key weaknesses of the SEC’s Reg BI. It allows brokers to claim they are working in an investor’s best interest without being held to a legal duty of loyalty”
Unless state-sponsored efforts can defy the stultifying reality of any political process, they are unlikely to pivot fast enough to overcome the fast-paced offerings coming from these private sector offerings.
What’s the biggest challenge for those responsible for administrating their company’s 401k plan while working from home? How is that challenge best overcome?
He also reveals the greatest misconception regarding MEPs, what the SECURE Act really did, and when we might begin to see the mass media start paying attention.
“As far as adopting employers, I would recommend an ERISA attorney because an MEP isn’t the right fit and fiduciary solution for every plan sponsor.”
It’s important to remember that the 401k MEP is just a vehicle. Whether they truly meet the objective of employees saving more for retirement and doing so effectively and efficiently comes down to execution.
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