Does an Incumbent ReviewSM satisfy your fiduciary duty?

Conventional wisdom has held for many years that you must perform a request for proposal on all medical and retirement plan vendors every 3 to 5 years in order to satisfy your fiduciary responsibilities under ERISA. This is not so. As long as you document a thorough analysis of your vendors’ continued competitiveness in terms of services provided and fees charged, an RFP is not necessary. The Incumbent ReviewSM is designed to satisfy your fiduciary obligations without the cost, time and potential relationship disruption of a full-blown RFP. Our process almost always results in lower fees and more/additional services.

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