In the world of retirement plans, only one thing seems certain: CHANGE is constant. Over the last decade, Congress has burdened plan sponsors with an overwhelming volume of legislation, making continual review of retirement plans essential. It is critical that the legal, compliance and design aspects of a plan are current.
The retirement plan provider review process can be time-consuming, confusing, and frustrating. All too often, standard vendor-provided proposals do not include enough information to determine administrative, recordkeeping, compliance, and employee communication services and standards. Furthermore, total plan costs are usually impossible to determine from the face of the proposals.