Products November 3, 2011

Turnkey Program Offering Fee Benchmarking Service

Retirement plan provider Retirement Desk is offering a no-cost fee benchmarking service for advisers and sponsors. 
Reported by

The service being offered by Retirement Desk aims to help advisers and plan sponsors determine if their retirement plan is fee competitive. Users may either enter the collected data themselves or Retirement Desk will read through provided agreements and statements to uncover the total costs of the plans. In addition, the proposal generation tool generates an illustration with a competitively priced TD Ameritrade solution. Retirement Desk says it plans to add other vendors to the comparison tool in its next version.

The services are designed for the small- and mid-sized marketplace. Both are now available at the company’s Web site and are currently free of charge to advisers and companies who register to the site when they submit their plan information.

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For more information visit http://www.retirementdesk.com.

Products November 3, 2011

Fiduciary Benchmarks Introduces Plan Design Optimizer

Fiduciary Benchmarks' Defined Contribution Plan Design Optimization Service provides an analysis of the impact of key plan design parameters on employee retirement readiness.
Reported by

The company said the service was designed for recordkeepers, third-party administrators (TPAs), broker/dealers, and advisers. It takes into account an individual’s age, compensation, deferral rate, investing behavior, social security entitlements, and any supplemental savings or retirement income. The result is a customized plan design solution that Fiduciary Benchmarks says can significantly improve retirement readiness for an employer’s entire workforce, while staying within that employer’s given budget.  

The service uses the last discrimination test performed for the plan to obtain compensation and deferral information for eligible employees along with the latest investment holdings of each employee and a short questionnaire that reflects the company’s specific attitudes about retirement savings and investing. This allows not only a detailed calculation of their expected retirement readiness, but also a detailed analysis of certain investing behaviors that have been academically proven to increase return and/or reduce volatility.  

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For more information, service providers should contact Craig Rosenthal at 203–405–1853 or crosenthal@fiduciarybenchmarks.com.

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