Compliance March 21, 2011

DoL Announces “Fiduciary Responsibilities” Webcasts

The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) will sponsor “Getting It Right – Know Your Fiduciary Responsibilities” Webcasts this week.
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The Webcasts are on Wednesday, March 23, and Thursday, March 24. They are part of the agency’s national fiduciary education campaign to increase awareness and understanding of basic responsibilities associated with operating private sector retirement plans. Speakers from the Labor Department will be featured.

The March 23 Webcast will focus on basic fiduciary responsibilities as well as prohibited transactions and exemptions under the Employee Retirement Income Security Act (ERISA).  The March 24 Webcast will include information on the reporting and disclosure provisions of the law, and the department’s voluntary correction programs.   

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Registration is required and available on a first-come, first-served basis.  Visit https://si-interactive.s3.amazonaws.com/prod/planadviser-com/wp-content/uploads/2017/10/03193441/Bettinger.htm?e=295595&s=1&k=4AAB924BE8C956A52FB338C0181C11D0 to register.
Products March 21, 2011

AUL Offers Multiple-Employer Plan to Smaller Companies

American United Life Insurance Company (AUL), a OneAmerica company, has introduced a multiple-employer 401(k) option for small- to mid-sized employers.
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The MEP Choice 401(k) plan, offered by MidAmerica MEP, Inc., provides a complete, customizable plan design that is suited for small- to mid-sized companies, according to AUL. The plan provides enrollment kits, live customer service and online access to plan information and fund options.A Roth option is also included.

The plan is available to employees at least 21 years of age and with at least one year of service to the employer. 

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Mesirow Financial Investment Management, Inc. will act as investment manager (as defined in Section 3(38) of ERISA), to the MEP Choice 401(k) plan with responsibility for fund selection and ongoing monitoring of the plan lineup.  

“The multiple employer plan is an attractive option for employers who want to offer their employees a robust 401(k), but would rather leave the burdens of plan design, management, audits and fund selection to someone else,” said Bill Yoerger, senior vice president of AUL Retirement Services. “With this multiple employer plan, many of the traditional concerns like cost, complexity and liability – concerns that may prevent a company from fully endorsing and supporting a retirement plan – are addressed on behalf of the employer.”

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