Having a high quality retirement plan is important, and it need not be difficult. Outsourcing employer sponsored retirement plans is on the rise, as companies demand more of scarce internal resources and sharpen their focus on business success. An outsourced model can help you deliver great value to your employees with fewer administrative hassles.
There is a strong trend to outsourcing in the defined benefit (DB) pension plan world. As DB pension plans close, plan employers are looking for ways to reduce the time and effort spent on overseeing them, while still maintaining a sharp focus on the strategic decisions they need to own. By outsourcing the implementation and ongoing oversight of their decisions, they are able to achieve improved results through a more efficient, cost effective process, and free up valuable time to focus on their core business.
But what of the defined contribution (DC) pension and retirement savings plan market? Why has the thinking on outsourcing not yet caught up to employers who sponsor DC pension and savings plans?
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