Small Business 401(k)
Michigan Chamber of Commerce Members with 2-150 Employees can now participate in the Michigan Chamber Multiple Employer 401(k) Plan (MiMEP).
As a small business owner who is looking to attract and retain quality employees, you look for resources that will give you a competitive advantage and allow you to provide financial stability for your workforce. The Michigan Chamber is dedicated to providing business solutions for its members.
As a small business owner who is looking to attract and retain quality employees, you look for resources that will give you a competitive advantage and allow you to provide financial stability for your workforce. The Michigan Chamber is dedicated to providing business solutions for its members.
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The Michigan Chamber worked diligently to research options to help small businesses offer an affordable retirement benefit. As a result, the Michigan Chamber is proud to offer the Michigan Chamber Multiple Employer 401(k) Plan (MiMEP), administered by Tri-Star Trust.
By participating in this program, small businesses can offer all the benefits a large company can at a competitive price.
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With new regulations set by the Department of Labor, employers with commonalities can now band together and have their 401(k) plans be treated as a single retirement plan. Save money by joining the MiMEP. Avoid taking on the costs and administrative challenges of establishing a standalone retirement plan. Employers who participate in the MiMEP have full access to the same low-cost investment funds that large employers can offer.
THE MiMEP BENEFITS INCLUDE:
- Competitive Advantage – Businesses can utilize this program to enhance their benefits package to attract and retain quality employees.
- Save Money – The MiMEP can negotiate lower fees from service providers based on large participant numbers and account balances.
- Save Time – Our team of financial experts will complete necessary paperwork and handle all of the administrative details.
- Create Efficiencies – Operational, transactional, and reporting functions are transferred to a third-party, thereby reducing fiduciary and financial risk.
The Michigan Chamber Multiple Employer 401(k) Plan is powered by Tri-Star Trust, a long-time Chamber member and administrator of the MiMEP. Tri-Star Trust is a valued wealth management partner.
Tri-Star Trust focuses on building caring, genuine relationships that strengthen families and transform the communities which it serves. Tri-Star Trust specializes in full-service wealth management, business 401(k) solutions, financial planning, and charity and foundation wealth management.
Tri-Star Trust focuses on building caring, genuine relationships that strengthen families and transform the communities which it serves. Tri-Star Trust specializes in full-service wealth management, business 401(k) solutions, financial planning, and charity and foundation wealth management.
Learn more about MiMEP by contacting the Tri-Star Trust Employee Benefits Team at
(989) 492-7610 or email to [email protected].
(989) 492-7610 or email to [email protected].
