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The process of procuring defined contribution (DC) plan services is a significant undertaking that may result in a plan sponsor selecting a new recordkeeper as a means to improving service, cost-effectiveness or both. Although DC plan services have become more standardized over the years, the process of moving from one recordkeeper to another is complex. Risks associated with a conversion include the potential for unexpected disruption to participant accounts, lengthy blackout periods, lost data, costly reconciliations and misunderstood communications.

  • Version
  • 2.25 MB File Size
  • June 22, 2021 Create Date
  • June 22, 2021 Last Updated
Segal - Changing DC Plan Recordkeepers Can Be Complex - Steps for a Smooth and Successful Transition