The newly-formed practice will offer defined contribution services, including strategy and plan design, cost and risk management, investment consulting, behavioral finance, administration, communication, and legal and compliance consulting, according to Hewitt.
In addition, the DC Consulting practice will be available to provide companies with retirement consulting and outsourcing solutions.
“As employees are encouraged to take more responsibility for their health and financial futures, defined contribution plans will continue to play an increasingly important role,” said Mary Moreland, leader of Hewitt’s Retirement and Financial Management business in North America, in a company announcement.
The new unit will be led by Alison Borland, who has spent more than a decade helping organizations navigate the challenges and risks associated with retirement income and postretirement welfare programs, with a focus on defined benefit and defined contribution strategy and design.
Prior to being appointed to her new role, Borland was a principal and senior benefits consultant in Hewitt’s Retirement and Financial Management business.