Streamlined Plan Adoption Process and Lower Expenses
Whether you’re receiving services from an advisor, third party administrator, or you have staff managing day-to-day 401(k) responsibilities, our MEP product can offer numerous benefits. It is designed to streamline the plan adoption process and help minimize the expenses associated with establishing and maintaining a 401(k) plan for participating employers or member firms. Through the MEP structure, the participating employers or member firms may have reduced roles and responsibilities, and may benefit from economies of scale as compared with establishing a single-employer plan.
Dedicated Service Team
Understanding the inner workings of an MEP requires specialized resources. Your dedicated service team consists of a core group of specialists, including a relationship manager, account manager, data analyst, transition manager (onboarding and off-boarding) and sales support manager. Assigned back-up individuals can help ensure uninterrupted service delivery. You can also benefit from strategic marketing and sales support designed to help communicate the value of your retirement plan offering to new adopting employers.
Advanced Recordkeeping and Plan Flexibility
Our service model is based on a customizable recordkeeping system that can facilitate adopting employer level reporting, consulting and administrative services. MassMutual recognizes the complexities with expanding these types of plans, and can provide sales and marketing support, in addition to investment and plan design flexibility.