2012 Q1 Vendor Search Case Study

June 5, 2012 / by NEPC

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There is a great deal of Congressional and regulatory attention on defined contribution plans and their role as the primary retirement vehicle for U.S. workers.  In the recent 408(b)(2) regulation, the Department of Labor acknowledges there have been a number of changes in the way services are provided to employee benefit plans and in the way service providers are compensated.  The complexity resulting from these changes has made it more difficult for plan sponsors and fiduciaries to understand what service providers actually are paid for the specific services rendered.  This case study, geared toward our defined contribution clients, discusses the record keeping vendor search process and the search conducted by NEPC on behalf of a client, Simpson Gumpertz & Heger.  What initially began as an investigation of service problems led to the issuance of an RFP (Request for Proposal), a change in service provider, improved Plan servicing and lower Plan fees.  

Topics: Defined Contribution


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