If you’re reading this, you have the ability to receive information through electronic media. You may be reading this on your smartphone or tablet. Have you checked your bank account or retirement account online this week? How many “apps” have you used today? According to the Pew Research Center, in 2019, 90% of U.S. adults use the internet. That includes 88% of adults ages 50-64 and 73% of adults over age 65. And more and more Americans are using electronic media for financial transactions. A Federal Reserve report found that 82% of smartphone users with a bank account used online banking. So, it’s … Continue reading "E-Delivery for Retirement Plans is a Winner"
Too many Americans lack access to a workplace retirement savings plan. Open multiple employer plans (known as open MEPs) are one great solution to expanding retirement plan access. The concept is simple – let unrelated employers band together to offer a common retirement plan to their employees. MEPs are not a new concept. But they’re currently “closed” – that is, generally limited to employers who have some relationship to each other. Opening up MEPs to any employer is a perfect solution for small employers who don’t have a retirement plan nor a “relationship” with other businesses. And expanding access … Continue reading "An Opening for Open MEPS?"