Fortress Multi-Employer Pension Plan
What is the Fortress MEP?
The Fortress Multi-Employer Pension Plan (MEP) is established under trust and allows multiple companies or employers to collectively contribute to a pension fund that is independently administered. The MEP allows employers to provide specific retirement benefits to their employees. Participating employers do not have to be affiliated in any way, and employers can still tailor the pension plan to suit their unique needs.
Who should invest in a Fortress MEP?
The Fortress MEP is best suited to small to mid-sized employers seeking the opportunity to provide specific retirement benefits to their employees without the hassle of managing their own pension plan.
Why should my company join a MEP rather than have a traditional group pension plan?
With a traditional group pension plan, your company has total control of the plan’s operation within the legislation that governs registered pension plans. This also means that your company or the appointed board of trustees has ultimate responsibility for operating the plan. For small to medium-sized businesses, this makes creating and running an effective pension plan a significant administrative and costly challenge. In comparison, as a member of a MEP, that responsibility rests with an independent board of trustees.