Service Provider Oversight and Benchmarking

One of the most difficult aspects of sponsoring a retirement plan is understanding all of the fees you're paying, and whether those fees are reasonable in light of the services you and your participants receive. With an ever-expanding environment of fee scrutiny and disclosure, it's no wonder that many sponsors aren't comfortable in answering the question, "Are your fees reasonable?" We can help.

We believe that most plan sponsors don't want to undergo a provider conversion if their needs can be competitively met by their current provider. Our approach to provider service and fee benchmarking can enable you to confidently answer the question of reasonableness, without automatically forcing a change in provider. Specific steps we'll take to advocate on your behalf include:
  • Conduct a detailed analysis of all of the fees you're paying
  • Offer an analysis of alternative pricing models
  • Provide a thorough benchmarking of the services provided by your current service provider
  • Identify ways to improve the efficiency of your plan administration
  • Determine the appropriate level of fees the plan should pay and suggest remedies if excessive fees or service gaps are found
  • Manage the negotiation of fees and services with the service provider
  • Conduct a formal Request for Information or Request for Proposal process if an alternative provider should be considered

  Plan Sponsor Performance
  Service Provider Oversight
  Due Diligence Process

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