Since we first published a MEP whitepaper with TAG Resources a few months back, where TAG coined the term “Open MEP,” much has happened in this marketplace. Most recently, Drinker Biddle published its own (very good) whitepaper on this topic, very much affirming, and going into closer detail on, many of the broad points we had raised in the TAG paper.
- More than one employer.
- Single plan under the Code.
- Non-collectively bargained.
- Application of minimum coverage, vesting, participation, non-discrimination, and benefit accrual rules in a particular way.
- Entire plan must be able to be disqualified by one participating employer.