Vendor Search and Evaluation

The Department of Labor makes it clear that a plan fiduciary must conduct a thorough and diligent investigation and rigorous analysis of relevant information when selecting and reviewing recordkeeping vendors. PlanPilot’s provider search process was designed not only to meet these requirements, but as a mechanism for increasing plan sponsor awareness on varying approaches to participant communications, website functionality, compliance support, and fee arrangements.

Our RFP provider search is customized to focus on services that are important to your plan. We emphasize efficient administrative services, best-in-class funds, fee transparency, and effective participant education and communications. We strive to identify the best fit provider with the highest quality investments and level of services at the most competitive price.

PlanPilot follows a four-phase evaluation process:

• Phase 1 — Discovery: we develop your unique plan profile which includes your service criteria and    distinct participant needs

• Phase 2 — Search: we develop and draft a custom RFP, distribute the RFP to the selected    recordkeepers, and host a bidder’s conference call

• Phase 3 — Analysis: we review the RFP responses, identify gaps and gain clarification, analyze the    services and fees, and develop a summary report that is reviewed with the selection committee all    with the goal of identifying finalists

• Phase 4 — Selection: we facilitate the finalists meeting, guide the committee in their decision    making process, and identify the strongest recordkeeper

Our RFP services are a thorough, well-documented due diligence process that can be used for audit and fiduciary purposes. The documentation and extensive evaluation validates your final provider selection.

Vendor Search and Evaluation


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