PLANSPONSOR - December 2021 - January 2022 - 20
RESEARCH | 2021 PLANSPONSOR BEST IN CLASS DC PROVIDERS
Trophy
Case
This year's W
Best in Class
DC providers
represent
an evolving
set of best
practices
hen conducting a service provider request for proposals (RFP), being specific as to the needs
of the plan-and letting the questions asked address those-can help ensure that administrative
and participant requirement needs are met.
The RFP will serve the sponsor and its adviser as a decisionmaking tool and will provide them
important details about how a recordkeeper will approach servicing the plan, says Jim Scheinberg,
managing partner at North Pier Search Consulting in Marina del Rey, California. Scheinberg finds
that his firm is often hired by a plan sponsor that has already started the search process and gotten
frustrated with vague or " marketing-forward " responses. Generally, he says, " they haven't drilled
in enough. They haven't asked the right questions. "
Plan and participant needs evolve, as do the providers serving the retirement plan industry,
sources observe. What might have been distinguishing offerings in previous years are now table
stakes, meaning that specificity has become more important. It is essential to be upfront about
what services and products are needed and incorporate that into your search, says Carol Buckmann,
founding partner in Cohen & Buckmann P.C. in New York City. " Plan sponsors often defer examining
the service agreement until they have already made a selection from among the candidates,
but this is a backwards approach, " she adds, noting that " if an agreement is presented on a takeit-or-leave-it
basis and terms are not negotiable and are very one-sided in favor of the provider, that
might change a candidate's ranking in the RFP process. "
Of course, sponsors at the helm of retirement plans know about the evolutions taking place-
they confront them daily. Therefore, a peer perspective on product and service offerings can be key in
provider evaluation. The 26th annual PLANSPONSOR Defined Contribution (DC) Survey, fielded in
late 2021, asked plan sponsors from across the country for information about their providers.
The pages that follow showcase the providers that excelled, based on the sponsors' reviews.
Findings are presented in six asset-based market segments. A provider appears in the segment or
segments in which it earned enough feedback to receive a score. Plan sponsors seeking to benchmark
20 PLANSPONSOR.COM December 2021 - January 2022 Art by Andrea D'Aquino
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PLANSPONSOR - December 2021 - January 2022
Table of Contents for the Digital Edition of PLANSPONSOR - December 2021 - January 2022
INSIGHTS
RULES & REGULATIONS
UPFRONT
ESG Interest Piqued
2021 Best in Class DC Providers
Ramping Up Offerings
Annuities Still Misunderstood
Student Loan Repayment
FIDUCIARY FORUM
INSIDE ANGLE
PLAN PROFILE
PLANSPONSOR - December 2021 - January 2022 - Cover1
PLANSPONSOR - December 2021 - January 2022 - Cover2
PLANSPONSOR - December 2021 - January 2022 - 1
PLANSPONSOR - December 2021 - January 2022 - 2
PLANSPONSOR - December 2021 - January 2022 - 3
PLANSPONSOR - December 2021 - January 2022 - INSIGHTS
PLANSPONSOR - December 2021 - January 2022 - 5
PLANSPONSOR - December 2021 - January 2022 - RULES & REGULATIONS
PLANSPONSOR - December 2021 - January 2022 - 7
PLANSPONSOR - December 2021 - January 2022 - 8
PLANSPONSOR - December 2021 - January 2022 - 9
PLANSPONSOR - December 2021 - January 2022 - UPFRONT
PLANSPONSOR - December 2021 - January 2022 - 11
PLANSPONSOR - December 2021 - January 2022 - 12
PLANSPONSOR - December 2021 - January 2022 - 13
PLANSPONSOR - December 2021 - January 2022 - 14
PLANSPONSOR - December 2021 - January 2022 - 15
PLANSPONSOR - December 2021 - January 2022 - ESG Interest Piqued
PLANSPONSOR - December 2021 - January 2022 - 17
PLANSPONSOR - December 2021 - January 2022 - 18
PLANSPONSOR - December 2021 - January 2022 - 19
PLANSPONSOR - December 2021 - January 2022 - 2021 Best in Class DC Providers
PLANSPONSOR - December 2021 - January 2022 - 21
PLANSPONSOR - December 2021 - January 2022 - 22
PLANSPONSOR - December 2021 - January 2022 - 23
PLANSPONSOR - December 2021 - January 2022 - 24
PLANSPONSOR - December 2021 - January 2022 - 25
PLANSPONSOR - December 2021 - January 2022 - 26
PLANSPONSOR - December 2021 - January 2022 - 27
PLANSPONSOR - December 2021 - January 2022 - 28
PLANSPONSOR - December 2021 - January 2022 - 29
PLANSPONSOR - December 2021 - January 2022 - Ramping Up Offerings
PLANSPONSOR - December 2021 - January 2022 - 31
PLANSPONSOR - December 2021 - January 2022 - 32
PLANSPONSOR - December 2021 - January 2022 - 33
PLANSPONSOR - December 2021 - January 2022 - Annuities Still Misunderstood
PLANSPONSOR - December 2021 - January 2022 - 35
PLANSPONSOR - December 2021 - January 2022 - Student Loan Repayment
PLANSPONSOR - December 2021 - January 2022 - 37
PLANSPONSOR - December 2021 - January 2022 - FIDUCIARY FORUM
PLANSPONSOR - December 2021 - January 2022 - INSIDE ANGLE
PLANSPONSOR - December 2021 - January 2022 - PLAN PROFILE
PLANSPONSOR - December 2021 - January 2022 - Cover3
PLANSPONSOR - December 2021 - January 2022 - Cover4
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https://www.plansponsordigital.com/plansponsor/august_september_2021
https://www.plansponsordigital.com/plansponsor/june_july_2021
https://www.plansponsordigital.com/plansponsor/april-may_2021
https://www.plansponsordigital.com/plansponsor/february-march_2021
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