WolverineBenefits Posted Thursday at 08:01 PM Posted Thursday at 08:01 PM In general, how long should an MEP take to produce a list of current participants for a participating employer? I would think this could be done within a day. Just curious.
Bri Posted Thursday at 09:08 PM Posted Thursday at 09:08 PM I bet their recordkeeping software could do it within a minute.
justanotheradmin Posted Thursday at 09:39 PM Posted Thursday at 09:39 PM that depends. by current participants do you mean people with balances? actives with balance? terminated people with balances? actives who are eligible but do not have a balance? if the MEP is relying on the individual employers to send them a census each year, they might not know who the current participant are, just who has balances and who was current as of the most recent year end. If the MEP is also the recordkeeper/custodian/and 3(16) provider it will vary. I'm a stranger on the internet. Nothing I write is tax or legal advice. I'd like a witty saying here, but I don't have any. When in doubt, what does the plan document say?
WolverineBenefits Posted 11 hours ago Author Posted 11 hours ago The employer wanted a list of their own active and former participants with balances
justanotheradmin Posted 9 hours ago Posted 9 hours ago can they not log in to a custodian or plan website and see balances? I'm a stranger on the internet. Nothing I write is tax or legal advice. I'd like a witty saying here, but I don't have any. When in doubt, what does the plan document say?
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