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Leveraging Multiple Small Employer Plans to Close the Retirement Coverage Gap (PDF)
Prudential Retirement via Retirement Made Simpler Link to more items from this source
Apr. 22, 2010
18 pages. Excerpt: There is no one solution that will completely solve this country's retirement coverage gap. But we believe there are several prominent ideas, including the recently proposed Automatic Individual Retirement Account (IRA), which together could help us take a significant step forward. This paper presents another idea, the Multiple Small EmployerPlan (MSEP). We believe the MSEP should be offered as a complementary alternative to the Automatic IRA, allowing small employers to choose the appropriate option for their workforce. MSEPs are designed to address concerns about costs and administrative burden -- the two issues most cited bysmall employers that discourage them from offering a retirement plan. By allowing employers with fewer than 100 employees to pool their resources under a single plan, MSEPs could provide lower costs and simplified administrative requirements to sponsors. Participants would likewise benefit from cost savings via access to institutionally pricedinvestments, as opposed to the retail offerings available in IRAs.

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