As an employer with a qualified retirement plan, you are responsible for monitoring the plan’s vendors and making decisions in the best interest of your plan’s participants. Our vendor consultants and analysts can help you determine how to pay for plan expenses, and can help you monitor the plan’s current vendors, or search for new vendors that best fit the plan’s needs and goals.
How We Can Help You
Our vendor monitoring service is research-driven, custom and proprietary. We will annually analyze your plan’s vendors, to ensure the arrangements are reasonable and necessary, and being paid for in the best way. Let us help you find new opportunities to improve fees and services, save the plan money and reduce fiduciary risk.
From time to time, it is prudent to search for new vendors to service the retirement plan. We can help you determine which vendor to hire to best fit the plan’s needs, while adhering to 408(b)(2) to determine if fees are reasonable and services necessary.
Our Vendor Team can also advise you on:
- Paying for plan expenses
- Fee litigation
- Record keepers
- Plan oversight
- Revenue sharing
- Covered service providers
The Vendor Team consists of highly credentialed consultants and analysts who concentrate solely on retirement plan vendors. This unique service allows us to negotiate with vendors on your behalf, clarifying exactly what the vendor is providing you, helping you determine if their service is beneficial for the needs of your plan.
Meet the Team Leader
Todd oversees the Vendor Team to help clients evaluate and monitor the vendors that service the retirement plan; along with holding vendors, such as record keepers, accountable. He holds a Juris Doctor from Gonzaga University and has been with Pension Consultants since 2012.
Keep Up With Us
In an earlier blog, “DOL Fiduciary Rule Delayed: Future Still Remains Unclear,” we communicated that the Department of Labor’s (DOL) Conflict of Interest Rule (also known as the Fiduciary Rule) would become applicable June 9th, 2017. As a result, after today, investment advice providers to retirement savers will become fiduciaries, and the “impartial conduct standards” […]Read More
Todd Hughes, JD, Director, ERISA and Vendor Services, was recently quoted in a DETROIT FREE PRESS article “Would you know if you are paying too much in fees with your 401(k)?”. Todd explains how excessive fee lawsuits have increased concerns about conflicts of interest and the lack of transparency in the retirement plan management industry. […]Read More
Todd Hughes, JD, Director, ERISA and Vendor Services, was recently quoted in PLANSPONSOR’s article “Getting to a Better Place – Improving a plan through the RFP/RFI process”. Todd discusses how Pension Consultants was able to help its plan sponsor clients reduce their record keeping fees. He also explains what plan sponsors need to do annually […]Read More