For many businesses, offering a retirement plan can be costly and complicated. The Prevailing Multiple Employer Plan (Prevailing MEP) offers a simple solution. With custom features, comprehensive services, investment support and most importantly, a sound fiduciary process, the Prevailing MEP makes it easy and less burdensome to offer your employees a quality retirement plan. 


The Prevailing MEP streamlines plan operations and reduces your administrative responsibilities. You turn these responsibilities over to a team of professionals that handle them for you. That translates into less time spent managing your retirement program, and more time to focus on your business. 


As a plan sponsor, you have at least 50 different types of tasks that you are responsible for. Do you feel confident that you are doing them all correctly, and do you really have time and a desire to do them? The Prevailing MEP reduces your workload from 50 tasks down to only a handful. You simply provide timely contributions and accurate census data. 


Under the Prevailing MEP, you can outsource responsibility for the fiduciary liability that comes with managing a retirement plan. The role of the named fiduciary, trustee, administrator and investment manager are outsourced to the professionals who manage the plan for you. Your name comes off of the 5500 and plan document, and nearly all legal liability is transferred to an institutional fiduciary expert in the governance and oversight of retirement plans. 


Through the Prevailing MEP, businesses like yours are able to leverage their combined purchasing power to access institutional quality features in a more cost-effective manner than single employer plans can access on their own. By participating in a plan that’s larger in scope and scale, you can take advantage of volume discounts and more favorable pricing compared to sponsoring a plan on your own. In addition, the plan delivers access to low cost, institutional-quality investment fund share classes not typically available to retail investors. 


Under this option, the plan sponsor is able to outsource plan investment fiduciary liability completely. Novus Advisors assumes responsibility for the management and monitoring of plan assets. This is the most comprehensive approach to investment fiduciary outsourcing. Our 3(38) investment services include: 

  • Investment selection
  • Investment monitoring
  • Investment Policy Statement
  • Quarterly investment reporting and market reviews
  • Qualitative and quantitative research supporting investment philosophy, methodology     and process
  • Plan level investment portfolio models (IPMs)


Shift fiduciary, administrative and operational burdens from your organization to ours

Employer Responsibilities Under a
Traditional Single Employer Plan

  • Establish Plan Provisions
  • Appoint Plan Administrator
  • Plan Document Administration
  • Administer Plan Provisions
  • Determine & Monitor Eligibility
  • Plan Operational Oversight & Compliance
  • Government Filings & Tax Reporting
  • Compliance Testing
  • Forfeitures & Suspense Accounts
  • Plan Audit
  • Approve Loans, Distributions, Terminations, QDROs
  • Participant Notices, Statements & Disclosures
  • Initial & Ongoing Employee Education
  • 404(c) Compliance (when applicable)
  • Appoint Investment Committee (optional)
  • Develop Quantitative & Qualitative Investment Process
  • Establish & Maintain Investment Policy Statement
  • Select Investments
  • Ongoing Monitoring of Investments
  • Remove & Replace Investments
  • Service Provider Selection & Oversight
  • Annual Plan Review & Valuation

Employer Responsibilities Under a
Multiple Employer Plan (MEP)

  • Provide accurate payroll and other data
  • Make timely contributions
  • Monitor fiduciary service provider(s)