SimPlus Savings will enable plan sponsors and fiduciaries to delegate certain fiduciary obligations and outsource administrative functions related to their defined contribution (DC) plans while still maintaining access to the strategic direction of their plans. Plan sponsors can improve their employees’ financial wellness, implement new and sustainable benefits strategies, better manage their fiduciary obligations and leverage institutional purchasing power.
Through SimPlus Savings, Aon Hewitt offers plan sponsors a variety of services for their DC plans and can assume responsibility for implementing investment strategy and plan investment management (including selection of plan investment menus). SimPlus Savings also features administration solutions, such as DC plan recordkeeping, daily operations and transaction processing, and participant services (including online investment advice, managed accounts, brokerage, and customer service).
More information is available here.