Picking Retirement Plan Providers
When it comes to evaluating plan providers to hire, it’s hard to develop a metric that would gauge whether a provider should be hired or not. We believe this Ary Rosenbaum article provides good insight on selecting service providers for retirement plans, especially when evaluating TPA firms. Benefit Plans Plus is a strong proponent of ongoing education and credentials, which validate the capabilities/competencies of an administration firm and their consultants. Source: Therosenbaumlawfirm.com
That being said, we hope you find his commentary helpful and interesting.
Key Article Points/Quotations:
- Look for experience, but don’t put too much stock in experience
- Cost is key, but not the only key
- Make sure your plan providers connect with your plan participants
- Don’t be over wowed by all the bells and whistles
- Don’t put all your eggs in one basket
- Don’t “juice” in plan providers
Ary Rosenbaum – Picking Retirement Plan Providers‘
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