Mulitiple Employee 401K Plan (MiMEP)

Has it been awhile since you reviewed your 401k Plan to your employees?

Have your heard about the …

Michigan Chamber Multiple Employee 401k Plan (MiMEP).

 
This 401k plan is exclusive to Michigan Chamber of Commerce Members. The MiMEP is a retirement plan solution for businesses with 2-150 employees.
 
By participating in the MiMEP, small businesses can offer all the benefits a large company can at a competitive price. With new regulations set by the Department of Labor, employers with commonalities can now band together and have their 401(k) plans treated as a single retirement plan.
 
Save money by joining the MiMEP. Avoid taking on the costs and administrative challenges of establishing a standalone retirement plan. Employers who participate in the MiMEP have full access to the same low-cost investment funds that large employees can offer.
 

The MiMEP Benefits Include:

  • Competitive Advantage Businesses can utilize this program to enhance their benefits package to attract and retain quality employees.
  • Save Money The MiMEP can negotiate lower fees from service providers based on large participant numbers and account balances.
  • Save Time Our team of financial experts will complete necessary paperwork and handle all of the administrative details.
  • Create Efficiencies Operational, transactional, and reporting functions are transferred to a third-party, thereby reducing fiduciary and financial risk.

Learn more about MiMEP by contacting

Nick Delmedico, Michigan Chamber. 

The Michigan Chamber is proud to offer the Michigan Chamber Multiple-Employer 401K Plan (MiMEP) administered by Tri-Star Trust Bank.

Tri-Star Trust Bank is a valued wealth management partner.