A multiemployer plan is a retirement program offered by labor unions, and it’s often referred to as a Taft-Hartley plan. The Taft-Hartley Act of 1947 allows employers in the same industry, such as construction or transportation, to contribute to a retirement plan for union members based on a collective bargaining agreement. A multiple employer plan is a retirement program maintained by two or more unrelated businesses that typically share a common interest, such as companies in the same industry group or association. And it’s an alternative for small employers looking for a cost-effective way to offer their employees retirement benefits with streamlined administration.