During this session hear about updates to the program and an overview to see how it can benefit your institution, faculty, and staff!
Strengthen your retirement benefit offer through a multiemployer retirement plan solution! Plan sponsors face increasing economic and fiduciary challenges. To help you, MICU offers a Multiple Employer Plan (MEP), a retirement plan program that allows you to offer a competitive retirement plan that benefits you and your employees.
The MICU MEP centralizes administrative and fiduciary support for plan sponsors. As a member of the MEP, you can take advantage of:
• Simplified plan design and investment choices
• Cost efficiencies through pooled resources
• Reduced fiduciary exposure
• Tools and resources to help with general administration and requirements
For your employees, the MICU MEP offers strong participant support to help promote financial literacy and responsible savings strategies among your employees—while enhancing your workforce management.
The MICU MEP is proud of our partnership with Millennium Advisory Services, Inc., Pentegra, PlanPILOT and TIAA, highly regarded and experienced providers, in making the MICU MEP available to our member institutions.
• Millennium Advisory Services, Inc., Registered Investment Advisor, provides the on-campus education and advice services for participating institutions
• Pentegra, the ERISA 402(a) named fiduciary and the ERISA 3(16) plan administrator, responsible for the day-to-day operations of the plan
• PlanPILOT, the ERISA 3(38) investment manager, responsible for the selection and monitoring of the funds in the investment menu
• TIAA, the plan recordkeeper, bringing 100 years’ experience in financial reporting and plan sponsor and participant services for the not-for-profit community
The MICU MEP focuses on improving and providing collaborative and cost-saving programs for member institutions. We’ve designed our program to generate economies of scale resulting in cost savings and improvements in the quality of goods and services to students, faculty and staff at Michigan’s independent colleges and universities.