Bench Marking
BENCHMARKING a fiduciary act that fulfills the need to keep expenses reasonable relative to the services provided.
Plan Benchmarking Analysis
What services are required by the plan | What services are not appropriate for the plan demographic
Plan Benchmarking Analysis Process
- Assists with fiduciary obligation to ensure that services are required and/or appropriate and that fees are reasonable.
- Connects to over 100 bundled and unbundled record-keepers and TPAs giving our clients access to the “best-in-class” vendors.
- Handles start-up to the largest of plans.
- Hundreds of data points are compiled, scored and analyzed.
- Side-by-side comparison is provided for thorough and transparent perspective.
- Average fee benchmarking is based on a national average plan design and demographics.
- Live bid benchmarking is based on your exact plan design and demographics.
Planned Benchmarking Analysis Process
Which Way Do We Go?
Benching Marking or RFP
Bench Marking Benefits
Stay with your current provider
- Potential negotiated outcomes
- Lower fees
- Enhanced investment lineup
- Enhanced services
RFP Benefits
Considering a new provider
- Expanded list of providers
- Additional qualitative analysis
- Finalist presentations
- Site visits
- DCP studies
Overview of Industry Fees
