CMMA 401(k) Multiple Employer Plan
CMMA is exploring the idea of offering a multiple employer retirement plan, also known as a 401(k) MEP. This type of retirement program could enable members to provide a powerful retirement plan to their employees, save money and reduce the amount of time spent with plan administration. Please join us for a free session on November 12 to learn more about the value of these plans.
• No annual audit
• Cost savings on the investments
• No individual Form 5500 reporting
• Minimal plan maintenance
• Flexible plan features, including safe harbor, Roth, and profit sharing
• Customizable 401(k) plan design options involving eligibility, matches, vesting schedules, and more
A CMMA 401(k) Multiple Employer Plan, from a government reporting standpoint, would be treated like one large plan. The end result for you is a 401(k) plan with competitive investments, outstanding service, and someone else doing a majority of the plan maintenance legwork.
STRENGTH IN NUMBERS
With many members in our association, we have the potential to bring a large, powerful group to one unified plan. Those who utilize the CMMA 401(k) Multiple Employer Plan would have all the advantages and flexibility of a stand-alone plan sponsor, but avoid the expenses and administrative burden associated with sponsoring a single employer plan.
Kate Whitmore, Assistant Vice President Transamerica
Scott Liggett, Director of ERISA Oversight from Qualified Plan Advisors
Hosted by: CMMA, Qualified Plan Advisors, Transamerica