PLANSPONSOR - November/December 2017 - 4

Issue Intro
Full Circle
D
etermining which recordkeeper may be best for your plan has become more
challenging, because many of the small players that worked in niche markets
have consolidated. This means that most of the major recordkeepers
can serve all types of plans and has led to basic services becoming more commoditized.
The Department of Labor (DOL) makes it clear that plan sponsors should
evaluate recordkeeping fees in the context of services received and their overall value.
Therefore, it's crucial for sponsors to periodically assess more than just fees, but the
extent that what it receives for them benefits the plan-a variable that can be hard
to determine. In " Seeking Value " (page 22), Judy Ward identifies four areas where
many plan sponsors can find added value from a recordkeeper, given the fee charged.
In " Breaking Up With a Fund "
Do you know
the average
participation rate
in a plan with
auto- enrollment
and escalation?
(page 58), John Keefe reports on what a
plan sponsor goes through in realizing
a fund has not met expectations or the
requirements as stated in the plan's
investment policy statement (IPS). For
the sponsor, it can be challenging to
replace a fund-to find and install a
capable substitute without too much
plan disruption. One source explains,
" There are few situations in overseeing
a qualified retirement plan more challenging
than replacing an investment. "
This story leads to the 2017 DC Survey: Plan Benchmarking (page 30), in which
we, again, present findings from our annual survey of DC plan sponsors. The results
may help validate your organization's current plan design decisions or indicate that
your strategies are not quite on par with your peers'. Do you know the average participation
rate in a plan with automatic enrollment and escalation? See page 35. How about
the percentage of plans that match catch-up contributions? See page 36. Brian O' Keefe
and Quinn Keeler, authors of this and all surveys for PLANSPONSOR, also identify the
best and worst industries for retirement benefits, measured by key plan metrics. As I
reflect on the data, I see some unfortunate tales.
In this issue, we also present the " PLANSPONSOR Research Year in Review "
(page 46), reminding you of the full array of proprietary research we completed in
2017 and make available to our readers. This roundup presents snapshots of each
survey and buyer's guide. As always, all of our research reports are fully accessible at
plansponsor.com/research.
Columnists Steve Saxon and George Sepsakos of Groom Law Group offer a
special holiday guide for fiduciaries (page 63), and Summer Conley and Michael
Rosenbaum of Drinker Biddle and Reath LPP give sage advice on choosing the right
adviser (page 62).
Of course, we have much more to share in the magazine and on plansponsor.
com. If you don't already receive our daily or weekly newsletters, sign up at plansponsor.com/subscribe/.
We do not disappoint.
From all of the staff at PLANSPONSOR, we wish you a very happy holiday season.
-Judy Faust Hartnett, Managing Editor
4 PLANSPONSOR.com November-December 2017
EDITOR-IN-CHIEF: Alison Cooke Mintzer
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MANAGING EDITOR: Judy Faust Hartnett
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MANAGING EDITOR, PLANSPONSOR.com:
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EDITORIAL STAFF: Lee Barney, John Manganaro,
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CONTRIBUTORS: Anthony DiSanzo,
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SURVEYS & RESEARCH: Quinn Keeler,
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DESIGN & PRODUCTION: Lynn Connelly,
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DESIGN CONTRIBUTION: Cherese Rambaldi
ART CONTRIBUTORS: Julie Benbassat, Chris Buzelli,
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PLANSPONSOR - November/December 2017

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