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Bill to expand MEP usage introduced in Senate

Bill to expand MEP usage introduced in Senate
The U.S. Capitol in Washington
With just a few days remaining on the congressional calendar, a bipartisan bill to expand the use of open multiple-employers plan has been introduced in the Senate.
The Improving Access to Retirement Savings Act, introduced Dec. 18 by Senate Finance Committee Chairman Chuck Grassley, R-Iowa, Sen. Maggie Hassan, D-N.H., and Sen. James Lankford, R-Okla., would allow more groups to participate in MEPs by expanding coverage to include 403(b) plans. It also clarifies that small employers that join a MEP may take the small employer pension plan startup credit for their first three years in a MEP, regardless of how long the MEP has been in existence. ....

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LATE SATURDAY NIGHT, Republicans and Democrats came to an agreement on Sen.
PAT TOOMEY’S (R-Pa.) language to limit the Fed’s emergency lending programs and this will clear a path to a vote on a spending and Covid relief deal as soon as today. This deal is eight months in the making. ....

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