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Ask the experts: What should we look for in retirement plan vendor?

Christian Schappel
by Christian Schappel
January 6, 2010
1 minute read
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Question: We’re considering changing our retirement plan vendor. What areas should we focus in on when searching for a new provider?
Answer: There are three areas you should focus on closely, says employee benefits attorney John L. Utz.

  1. Cost. Value is key here. If the new company’s more expensive than your current vendor, does it offer more resources? Are the additional services worth the extra cost?
  2. Communication tools. Will your employees be able to easily read and understand the new provider’s educational materials? Will your workers be able to navigate the provider’s Web site easily?
  3. Investment options. Are the vendor’s investment options varied enough to suit the needs of your employee population?

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