Multiple Employer Plans (MEPs), Pooled Employer Plans (PEPs) & Defined Contribution Groups of Plans (DC Groups)
Institutional Retirement Structures for Employers Who Want Scale, Efficiency & Risk Transfer
According to a March 2018 Bureau of Labor Statistics report, 51% of employees at small businesses (under 100 employees) lack access to a qualified retirement plan. The most cited barrier: cost and administrative complexity.
MEPs, PEPs, and Defined Contribution Groups (DC Groups) were designed to solve that problem. When structured properly, these arrangements reduce cost, centralize fiduciary responsibility, and create institutional-level governance — without requiring each employer to build it alone. Fiduciary Wise assumes ERISA 402(a) and 3(16) responsibility for Multiple Employer Plans, Pooled
Employer Plans, and DC Groups nationwide.
The Difference Between a MEP and a PEP
The SECURE Act of 2019 (effective January 1, 2021) formally introduced the Pooled Employer Plan (PEP). However, Multiple Employer Plans (MEPs) — both “closed” and “open” — have existed for decades and remain viable structures.
Both structures allow unrelated employers to participate in a single retirement plan.
So, which is best?
It depends on company size, industry alignment, governance preferences, service model requirements, and fiduciary structure goals.
We evaluate these factors before recommending structure.
Why Employers Choose Fiduciary Wise
As an ERISA 402(a) Named Fiduciary, we assume oversight responsibility for statutory administrative functions, including:
- Annual review, reconciliation, and signing of IRS Form 5500
- Signature authority as Plan Administrator
- Verification of plan reporting accuracy
- Oversight of required notices and disclosures
- Coordination of required schedules and attachments
- Monitoring plan-level compliance obligations
This shifts formal administrative liability away from the employer and into a properly designated fiduciary structure.
Institutional Governance & Oversight Included
Our MEPs and PEPs are built on structures that have been reviewed by the Department of Labor and are supported by comprehensive fiduciary oversight. Fiduciary Wise represents the plan in Department of Labor investigations, IRS audits, and participant claims, while also maintaining the Plan’s Investment Policy Statement (IPS) and overseeing service provider pricing to ensure fee reasonableness. We conduct regular plan committee meetings, maintain formal written documentation, and execute key legal documents, including vendor agreements and annual Form 5500 filings. Employers retain flexibility in plan design, while fiduciary leadership and governance are centralized.
Cost Efficiency Through Scale
MEPs and PEPs are almost always less expensive than stand-alone plans due to aggregated plan assets, consolidated service provider contracts, centralized fiduciary oversight, and institutional pricing tiers.
Scale creates efficiency without sacrificing governance.
Defined Contribution Groups of Plans (DC Groups)
For larger employers or advisor groups seeking structural alignment without full PEP/MEP integration, DC Groups of Plans allow:
- Consolidated Form 5500 filing
- Shared governance efficiencies
- Fee benchmarking leverage
- Centralized oversight
This model balances independence with operational efficiency.
Who This Is For
- Small to mid-sized employers lacking internal ERISA expertise
- Advisors seeking scalable plan solutions
- Industry associations
- Service providers expanding retirement plan access
- Employers prioritizing fiduciary risk transfer
Compare Before You Decide
We encourage comparison. Evaluate your current plan:
- Who serves as Named Fiduciary?
- Who signs the Form 5500?
- Who represents the plan in DOL audits?
- Who monitors service provider fees?
- Who prepares and enforces the IPS?
Ready to Evaluate Your Plan?
MEPs, PEPs, and Defined Contribution Groups can reduce administrative complexity, improve governance, and shift significant fiduciary responsibility to experienced professionals. The first step is understanding which structure best fits your organization.
Schedule a MEP / PEP Consultation
Meet with our team to evaluate whether joining an existing plan or establishing a customized structure is the right path.
Download the Fiduciary Checklist
Review the key responsibilities every plan sponsor should understand when managing an ERISA retirement plan.
Learn More About ERISA 402(a) & 3(16) Fiduciary Designation
Explore how formal fiduciary delegation can strengthen governance and reduce plan sponsor exposure.