- July 27, 2021
- Posted by: Stratford Team
- Category: Business
The Society for Human Resource Management (SHRM) now offers the SHRM 401(k) Solutions by Raymond James program.
Employers can use it to shop for a retirement plan with better pricing, and it potentially saves them time by outsourcing significant liabilities and risks, and providing expertise to manage a 401(k) plan, SHRM said. For example, the plan offers outsourced fiduciary investment services, such as negotiated grid pricing at many of the leading record keepers and third-party administrators.
The program is not structured as a pooled employer plan, but it allows sponsors to achieve many of the benefits of pooling assets without going through a plan conversion or giving up control of their plan design.
It also offers a complimentary benchmarking report that uses data from an independent third party. The report by Raymond James allows employers to assess their current plan fees, have service providers compete for employers’ business, and identify…
