- ERISA holds retirement plan fiduciaries to the highest legal standards. To help meet these legal requirements, we can provide plan sponsors with the independent, objective consulting and guidance necessary to effectively meet and manage ERISA standards. Proper selection and ongoing monitoring of investment alternatives within the plan is a critical aspect of the fiduciary process. Our independent and objective analysis provides plan sponsors with the specific detailed information necessary to make informed decisions on behalf of the plan and help fulfill its fiduciary obligation.
RFP Services:
Help the client define the RFP process (initial needs analysis and questionnaire)
- What questions and issues need to be addressed?
- What information is relevant?
- What and how to properly investigate alternatives?
- How to evaluate the 'right' information?
- How to determine the decision making criteria?
Educate the Client about all available options
Drafting the RFP document for client review and then changes as needed
Conducting the Initial Provider Evaluations
Solicits information from 401(k) providers on behalf of the client
Assembles and analyzes the data and presents/explains the results to the Client (Executive Summary)
Prepare a Total Cost Analysis
Compares costs and checks references where appropriate
Compares proposed services provided by each vendor
Recommend three providers who are the best fit for the client
Onsite interview of the three finalists with the client
Final recommendation of the best fit provider
Reviews contracts and other documents in conjunction with client
Benefit Investment Group Inc. - Professional 401(k) Managers -
Consultants - Administrators
