MarathonHR offers a Multiple Employer Plan (MEP) 401(k) for small and medium-sized businesses looking to save money on their retirement plans. A Multiple Employer Plan allows two or more unrelated companies to collaborate to offer their employees a 401(k) retirement plan.
Recently, MarathonHR has changed the Multiple Employer 401(k) Plan provider to bring better value to all our customers. As a reminder, all MarathonHR clients are eligible to participate in our Multiple Employer Plan together.
Some of the key benefits of a Multiple Employer 401(k) Plan are:
- Potential cost savings compared to many other options, including a single-employer plan
- Fiduciary support
- Flexibility of plan design
- Access to a broad array of investment choices
- Strong participant education support
- Business tax deductions
- Employee retention and recruitment
Furthermore, purchasing your Multiple Employer 401(k) Plan through MarathonHR affords you numerous administrative benefits. Our plan partner or we will:
- prepare and file necessary documents
- handle yearly nondiscrimination tests (for which the costs are spread among all the participants)
- maintain records
- file annual reports
- prepare and distribute quarterly participant statements, and more.
62% of employees without retirement plans say they would leave their company for an identical job if it included a retirement plan. Don’t pay too much for the retirement plan you already offer—or risk losing valuable employees if you do not currently have one. Enjoy the benefits of MarathonHR’s Multiple Employer 401(k) Plan today!