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.
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.