The DIRECT MEP is a qualified 401(k) plan which allows employers to reduce costs and liability by participating together in a single plan.     The employer minimizes their fiduciary liability of running the plan by delegating the Plan Sponsor and Trustee Responsibilities to Summit Trust Company.

Benefits to Employers:

• Substantially reduces fiduciary liability by transferring responsibilities of running the plan to Summit Trust Company
• Reduces overall plan costs
• Eliminates the need for plan audits
• Eliminates the need for individual employers to file form 5500
• Full fee disclosure and revenue re-capture complies with 408(b)(2)
• Ability to create unique plan design for each adopting employer

 

MEP Fact Sheet Advisors

MEP Fact Sheet TPAs

MEP Fact Sheet Employers

MEP Net Fee Example – $1 Million

MEP Net Fee Example – $3 Million

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For more information on the DIRECT MEP,  please contact 800-571-5104 ext. 2