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Wisconsin Private Colleges and Universities Form 403(b) MEP

The Wisconsin Association of Independent Colleges and Universities (WAICU) has partnered with Transamerica to create a 403(b) multiple employer plan (MEP).

The WAICU is comprised of 24 independent colleges and universities. According to a Transamerica press release, the new MEP could have more than 17,000 members and more than $3 billion in assets.

Transamerica Senior Vice President Brodie Wood called the WAICU “entrepreneurial” and hailed the plan as a “truly an innovative benefit WAICU provides to their members” and as “a solution that can reduce costs and create administrative efficiencies.”

On April 3, the Council of Independent Colleges in Virginia announced that 14 of its 28 members have formed a 403(b) MEP.