Transitioning Your Plan

Transitioning Your Plan2019-01-08T11:01:24+00:00

Best Practices Guide to Plan Transition

Plan sponsors look forward to positive relationships with the firm, or firms, they’ve selected to administer their defined contribution plans. At the same time, plan sponsors have the fiduciary responsibility to carry out their duties solely in the interest of their participants, ensure that the services being provided are at a reasonable cost, and may be under a legal or policy requirement to periodically bid a plan’s services. Plan sponsors may also determine that the third-party-administrator/record keeper has experienced a change in focus or capability that warrants a review of their services. As a result, plan sponsors should consider periodically conducting a market search for similar services as a best practice and choose to either remain with their current record keeper or make a change.

Plan Transition Section Links

Use the links below to navigate to any section of the Best Practices Guide to Plan Transition. You are required to log in to your NAGDCA account to view the sections listed below:

ADMINISTRATORS/RECORDKEEPERS
TRANSITION PREPARATION

THE PLAN TRANSITION PROCESS

PLAN TRANSITION TIMING
CONCLUSION