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S. Derrin Watson in BenefitsLink
Oct. 7, 2011
"Open MEPs have a real problem. There is no relationship between the employers other than their participation in the plan, and the cosponsors have little or no control over plan operations, selection of fiduciaries, or other matters. Frankly, that's part of the appeal of open MEPs: leave the tough decisions to the experts and cast your fiduciary responsibilities aside. And the DOL is not above looking at the way a MEP is marketed to determine that it is not sponsored by a bona fide employer association."
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