Vendor Benchmarking & Search
With AFS 401(k) as your partner, we want you to select a provider, or vendor(s), that most appropriately fit the specific needs of your organization and employees. We use our expert to provide an independent and objective approach to managing your vendor relationship, and leading your through a vendor benchmarking and search process to select the “best fit” vendor relationship to meet your needs.
We proactively benchmark, analyze, and perform due diligence to ensure your vendor partner can deliver for your organization and employees at competitive pricing. We will partner with you to lead the entire process, including:
Vendor Benchmarking / RFP Process
- Vendor RFP development, review, and delivery
- Analysis of recordkeeping, administration, technology, compliance, and employee services
- Review, analysis, and recommendation of semi-finalist and finalist vendors
- Coordination and participation in all vendor review meetings and presentations
- Negotiation, contract review, and service commitment discussions
Ongoing Monitoring
Once your plan is in place, you can expect:
- Monitoring of participation levels and performance
- Plan cost benchmarking and analysis against other vendors and plans
- Guidance on areas of improvement
- Target date analysis and custom target date solutions