Practical advice (including a recommended approach) to select provider(s) that are appropriate for your company’s retirement plan.

When selecting 401(k) plan [1] vendors, many companies fall into “the sales claim trap” and make inappropriate selections, leading to frequent vendor turnover. The article outlines the primary service approaches available in the market, and the pros and cons of each approach. Also addressed are techniques for matching investment options to the unique characteristics of your company’s workforce. Finally, the article describes how to develop and manage a structured Request for Proposal (RFP) process to be used to select new 401(k) vendors.

Download Managing the 401k Vendor Selection Process [2].