Plan Level Benchmarking
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.
The Philadelphia Group is the Plan Sponsor’s outsource partner in the plan provider review process. The search process analyzes 150+ data points including key areas of Recordkeeping, Total Plan Cost, Investment Management, Compliance, Employee Education and Technology. This process enables Plan Sponsors to eliminate the confusion and frustration of selecting a 401(k) provider, and dramatically reduces the amount of time plan sponsors must allocate to the evaluation of new plan providers.