MEP (401)k

As a valued member or prospective member of the Cayuga County Chamber of Commerce, your business has access to a Multiple Employer 401(k) Plan (MEP) — a cost-effective and turnkey retirement plan solution designed specifically for small to mid-sized businesses.

What is a MEP 401(k)?

A Multiple Employer Plan (MEP) allows unrelated businesses to join together under one retirement plan, sharing the administrative responsibilities, reducing costs, and limiting fiduciary risk.

Key Benefits for Chamber Members:

• Reduced Administrative Burden
  Day-to-day plan administration, compliance, and IRS filings (like Form 5500) are handled by the plan sponsor.
• Cost Savings
  By pooling together with other chamber members, your business can benefit from institutional pricing on investments and plan services — which can be lower than standalone plans.
• Fiduciary Protection
  The MEP structure transfers much of the fiduciary responsibility to the lead sponsor and professional plan administrator, helping reduce your liability and risk.
• Custom Plan Design
  Each employer can maintain flexibility in plan features — such as eligibility, matching contributions, and vesting schedules — while still benefiting from the shared structure.
• Employee Retention & Recruitment
  Offering a competitive 401(k) with low fees and strong investment options can help attract and retain top talent.
• Easy Onboarding
  Enrollment is simple and guided by professionals who handle plan setup, employee education, and ongoing support.

Who Should Consider Joining?

This benefit is ideal for:

• Small to mid-sized businesses seeking a retirement plan without the full administrative burden
• Companies currently offering a 401(k) but looking to reduce costs or risk
• Businesses wanting to start offering a retirement plan for the first time

If you are interested in learning more about the Chambers MEP offering, please contact Jeremy T Caza, Carta Wealth Planning  JCaza@CartaWP.com

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