PLANSPONSOR - April/May 2018 - 57
Plan Administration Guide, Part 1
Integration
Benef tsi
Opportunities and challenges
of managing multiple plans
C
hoosing a service provider for any health or welfare benefit plan
is a significant responsibility and requires analysis not only of
company needs but of the marketplace. The PLANSPONSOR
Plan Administration Guide, Part 1, on the following pages, offers insight
into the provider marketplace for defined benefit (DB) plan, stock plan
and health savings account (HSA) administration. Defined contribution
(DC) plan providers will be covered in the annual recordkeeping survey,
in the next issue.
How you choose to service these benefit plans, which are generally
supplementary to a DC plan, can be a strategic question. Do you
value simplicity with one provider handling it all, or do you want a
top-shelf approach to each product, where you invest the time to
research points of differentiation and choose three unique providers?
In general, says Managing Director of Retirement Robyn Credico of
Willis Towers Watson, outside Washington, D.C., less than a third of
large employers bundle their plans with one provider. This seems to
match the experience of the largest retirement recordkeeper: As of
March, year-to-date, 29.7% of Fidelity clients have more than one plan
or product on their platform.
There are many advantages to having your plans serviced by the
same provider, or what is considered a " bundled " plan, according to
Sangeeta Moorjani, head of workplace investing product, marketing
and advice for Fidelity in Boston. " The big bold word is 'integration.' We
know how hectic life is for employers and employees and how important
Art by Uijung Kim
PLANSPONSOR.com April-May 2018 57
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PLANSPONSOR - April/May 2018
Table of Contents for the Digital Edition of PLANSPONSOR - April/May 2018
2018 Plan Sponsors of the Year
Plan Administration Guide, Part 1
From Strength to Strength
Finding the Best Course
Managed Accounts
Rising Costs
Taking Responsibility
PLANSPONSOR - April/May 2018 - C1
PLANSPONSOR - April/May 2018 - FC1
PLANSPONSOR - April/May 2018 - FC2
PLANSPONSOR - April/May 2018 - C2
PLANSPONSOR - April/May 2018 - 1
PLANSPONSOR - April/May 2018 - 2
PLANSPONSOR - April/May 2018 - 3
PLANSPONSOR - April/May 2018 - 4
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PLANSPONSOR - April/May 2018 - 15
PLANSPONSOR - April/May 2018 - 2018 Plan Sponsors of the Year
PLANSPONSOR - April/May 2018 - 17
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PLANSPONSOR - April/May 2018 - Plan Administration Guide, Part 1
PLANSPONSOR - April/May 2018 - 57
PLANSPONSOR - April/May 2018 - 58
PLANSPONSOR - April/May 2018 - 59
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PLANSPONSOR - April/May 2018 - 61
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PLANSPONSOR - April/May 2018 - 66
PLANSPONSOR - April/May 2018 - 67
PLANSPONSOR - April/May 2018 - From Strength to Strength
PLANSPONSOR - April/May 2018 - 69
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PLANSPONSOR - April/May 2018 - 71
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PLANSPONSOR - April/May 2018 - 77
PLANSPONSOR - April/May 2018 - Finding the Best Course
PLANSPONSOR - April/May 2018 - 79
PLANSPONSOR - April/May 2018 - Managed Accounts
PLANSPONSOR - April/May 2018 - 81
PLANSPONSOR - April/May 2018 - Rising Costs
PLANSPONSOR - April/May 2018 - 83
PLANSPONSOR - April/May 2018 - Taking Responsibility
PLANSPONSOR - April/May 2018 - 85
PLANSPONSOR - April/May 2018 - 86
PLANSPONSOR - April/May 2018 - 87
PLANSPONSOR - April/May 2018 - 88
PLANSPONSOR - April/May 2018 - C3
PLANSPONSOR - April/May 2018 - C4
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