Plan Sponsor Services (PSS) works side-by-side with plan sponsors and advisors to delegate fiduciary responsibility by selecting and managing vendors that deliver the services required to properly administer and manage employer-sponsored retirement plans. Below is a list of benefits that our services provide:
Fee & Expense Management
The cumulative effect of fees and expenses on retirement savings can be substantial. PSS determines and monitors a plan’s actual costs — including disclosed and undisclosed investment fees, and service related fees. PSS Fee & Expense Management is provided for the purpose of determining the overall competitiveness and value of a plan’s costs, and possible alternatives to best manage those costs.
Fiduciary Management
Plan sponsors, plan trustees and investment committee members face ongoing exposure to fiduciary liability. PSS supports various aspects of plan management while working directly with plan fiduciaries to properly delegate fiduciary responsibility and limit liability. PSS Fiduciary Management is provided for the purpose of creating fiduciary safeguards as they relate to ongoing plan review procedures.
Vendor Management
Fiduciaries are constantly challenged by the mounting complexities involved with providing employer-sponsored retirement plans. PSS was created to be a resource that makes managing those challenges easier by evaluating best practice standards, and implementing an ongoing benchmarking process to ensure plans remain competitively serviced and priced. PSS Vendor Management is provided for the purpose of selecting and managing plan service providers.
Communication Management
Plan Sponsors are often faced with the questions, “Do our employees understand the value of the company's retirement plan and am I am properly communicating with plan participants?” PSS can develop a communication plan and conduct employee enrollment and participant education meetings. PSS Communication Services is provided for the purposes of creating a custom, hands-on communication plan; based on participant success measures derived from the annual benchmarking process.
It is clear that plan sponsors, and the officers and managers who serve as fiduciaries, are required to identify and evaluate conflicts of interest and to protect the plan and the participants
from their consequences.
Read more.
Revenue Sharing in the 401(k) Marketplace: ‘Whose Money Is It?’
Soft dollar financial arrangements that affect millions of American workers and their retirement accounts.
Read more.
