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Informational Webinar: MICU 403(b) MEP

MICU has developed a cost-effective way for its members to administer their retirement plans through the MICU 403(b) Multiple Employer Plan (MEP).

Since the 2009 ERISA changes, 403(b) plan sponsors have been burdened with up to 50 tasks such as completing expanded Form 5500s, providing annual disclosure notices to employees, selecting investment options for the plan menu, and much more.

 Higher education institutions have come under scrutiny by being sued because their retirement plans have not met the provisions under ERISA. It has been an ongoing challenge for administrators to keep up with increasing regulations and provisions.

 The MICU 403(b) MEP:

  • Significantly reduces fiduciary risk

  • Alleviates administrative workload

  • Reduces expenses through pooling plan administrator, legal, investment advisor, and audit functions into one plan

  • Reduces fees for employees

  • Provides more individual employee financial education

  • Retains TIAA as administrator, a brand name in higher education

  • Allows the institution to control plan design (employer contribution level, eligibility, etc.)

Want to learn more about the MEP? Join us for an informational webinar on Tuesday, November 5 at 2pm. During the webinar we will review the benefits, structure, pricing, and more.

Note This webinar is for contacts at MICU member institutions within the Office of the President, Chief Financial Officer, and Human Resources.

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Earlier Event: October 30
Fall Institute
Later Event: November 14
CFO Working Group