Multiple-Employer Plan (MEP) – and now Pooled Employer Plans (PEP) – functionality is not new to ASC Software Systems. Many years ago, we built MEP capability into our ASC DC/401k Valuation, Compliance Testing, Plan Document and 5500 Systems to accommodate our clients who are MEP/PEP providers.
A multiple-employer plan is a plan that is maintained by more than one employer. They can be ‘open’ or ‘closed’ and ASC’s System handles both.
Over the years, some of the largest MEP/PEP providers have chosen ASC Systems to administer their MEPs. Plan administrators have the ability, via the ASC System’s ‘user preferences’ to administer the plans the way they want. For example, participating employers of a MEP may be set up as individual cases within the ASC System and aggregated via Multiple Plan Maintenance Feature or the MEP can be set up as a single case; using the “locations” feature to identify the participating employers.
The MEP functionality utilizing the Locations Feature allows users to administer compliance testing, perform employer allocations and export 5500 data similar to running a single employer plan.
Users may also choose to set up individual cases for each participating employer in the MEP and administer testing and allocation within each plan case.
ASC’s DGEM Plan Document system offers robust MEP functionality including the ability to create, modify, update and restate documents from the master plan to the adopting employers. Plan provisions may be integrated to ASC’s valuation and Compliance Testing software.
ASC’s 5500 Systems allow the user to choose the “Multiple-employer” box on the 5500/SF which indicates the plan is (closed) MEP. When this box is marked, the user is required to attach a list of participating employers to the filing that reflects the name of the participating employer, EIN and percentage of total contributions to the plan. A “Multiple ER plans participating Employer information” template is available for users on the Downloads page in DGEM.
You can also contact sales@asc-net.com for more information about the MEP/PEP functionality within ASC.
