Plan Level Benchmarking

The retirement plan provider review process can be time-consuming, confusing, and frustrating. All too often, standard vendor-provided proposals do not include enough information to determine administrative, recordkeeping, compliance, and employee communication services and standards. Furthermore, total plan costs are usually impossible to determine from the face of the proposal.

As the Plan Sponsor’s outsource partner, MBC Investment Consulting, Inc. utilizes both RPAG and fi360 in the plan provider review process. RPAG uses the Fiduciary B1 Provider Benchmarking tool which helps Plan Sponsors to select a 401(k) provider, and dramatically reduces the amount of time plan sponsors must allocate to the evaluation of new plan providers.