AISNE Multiple Employer Program

AISNE Multiple Employer Program

AISNE member schools can save administrative time and money on their 403(b) retirement plan offerings via our newly launched Multiple Employer Program (MEP). 

The AISNE MEP is a cost effective way for schools of varying sizes to offer the highest quality retirement plan to their members. As the name suggests, AISNE and a group of member schools unite 403(b) plans under a single administrative structure, allowing us to share the costs of a single plan audit, work with a common plan investment advisor, ensure your school’s ERISA compliance, and unlock deeper discounted rates from our recordkeeper (TIAA). 

The result is not only a lower out of pocket annual cost, but significantly streamlined management of your 403(b) program, freeing up valuable time in your business office. In many cases, the savings offered by the MEP will exceed the cost of your school’s annual AISNE member dues. 

Benefits

  • Lower investment costs via the pooling of plan assets, allowing access to the highest quality investment fund share classes and lower investment management fees.
  • Streamlined plan administration. With a single 5500 and accompanying audit for the entire MEP plan, regardless of the number of schools participating, we’ll distribute costs and offload administrative tasks.
  • Minimal disruption. By using TIAA as our plan recordkeeper, you and your staff will notice little, if any, change to your 403(b) offerings if you are already TIAA clients. Keep the same login and individual retirement accounts.
  • Outsourced fiduciary responsibilities. Along with superior plan governance from our plan fiduciary (Pentegra), your school’s litigation risk is virtually eliminated.
  • Employee education. The MEP’s investment manager (Fiducient Advisors) will also work with your employees to provide individualized guidance and retirement planning services to encourage greater retirement readiness.
  • No cost to join. The option to join the MEP is included in your AISNE membership. AISNE does not charge a fee to join. All costs associated with the MEP are administrative, and in most cases will be significantly less than your current retirement plan administrative costs.

How It Works

AISNE has partnered with three organizations to bring the MEP to our members:

  • TIAA, Recordkeeper | As the plan’s recordkeeper, TIAA holds the plan assets and serves as the bank for the MEP’s monies, where your employees’ retirement accounts can be accessed.
  • Fiducient Advisors, Investment Advisors | Fiducient leads the investment strategy for the plan and offers guidance and retirement planning to the plan participants. This is the plan’s 3(38) ERISA Investment Advisor.
  • Pentegra, Plan Administrator | Pentegra is responsible for all administrative tasks associated with the plan, and serves as the plan’s fiduciary body to ensure ERISA and IRS compliance. This is the plan’s 3(16) ERISA administrator.

Each AISNE member school within the MEP will designate a representative to be part of the MEP’s governing body. The MEP governing committee appoints a group of officers to oversee the details of the MEP’s administration. 

The governing body will meet with the plan fiduciary (Pentegra) and investment advisors (Fiducient) quarterly to hear key updates, receive progress reports, and vote on any urgent matters pertaining to the administration of the plan (e.g. significant shifts in investment strategy, appointment of new officers, etc.).

Have a Question about the AISNE MEP? Contact Us!

Getting Started

If you are interested in joining the AISNE MEP, or would like to learn more, email Alexander Noren, AISNE’s Director of Finance.