PAIS Multiple Employer Retirement Plan (MEP)

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The PAIS MEP provides:

• Full outsourcing of plan administration through Pentegra 
• 3(38) discretionary investment management through CBIZ 
• Recordkeeping and relationship management through TIAA 
• Centralized 5500 filing and audit coordination 
• Quarterly governance and fiduciary review meetings 
• Participant education and personalized retirement advice 
• Economies of scale that may reduce recordkeeping and investment costs 

Schools retain autonomy over key plan provisions such as employer match and contribution structure, while outsourcing much of the compliance and fiduciary responsibility.

Many independent schools operate with small HR and business teams. The PAIS MEP centralizes plan administration, including compliance testing, regulatory notices, vesting tracking, and audit coordination.

For participating schools, this often results in meaningful time savings and reduced internal risk exposure.

The PAIS MEP structure allows member schools to outsource much of the fiduciary investment management and administrative responsibility permitted under ERISA.

This includes:

• 3(38) investment manager oversight 
• 3(16) plan administration services 
• Ongoing compliance monitoring 
• Quarterly review meetings
   

This structure can significantly reduce plan-level liability for participating schools.

 By pooling assets across participating schools, the PAIS MEP may provide:

• Lower recordkeeping fees 
• Reduced investment expense ratios 
• Enhanced fund lineup 
• Greater service access

Current participating schools have reported meaningful cost reductions and enhanced services following transition into the MEP. 

Each participating school receives:

• On-campus education sessions 
• Group meetings and one-on-one consultations 
• Virtual access to financial coaching 
• Personalized investment advice for employees

The goal is simple: help faculty and staff achieve greater confidence in their retirement readiness.