easypeasyRFP

Easily compare retirement plan service providers

Fulfilling your responsibility to select and monitor service providers for your retirement plan can seem daunting, but it is an important step to ensure you are doing what is best for your company and employees. According to the Department of Labor, retirement plan administrators collect requests for proposals (RFPs) from service providers at least once every three to five years to compare their services and fees.

We guide you through every step of this process. With easypeasyRFP, here is what to expect:

1. Step 0. Choose the RFP type: plan advisor, recordkeeper / plan administration, or payroll.
2. Step 1. Complete the sponsor request form with plan details, committee emails, and provider invitations.
3. Step 2. Committee members rank service priorities in a short hosted survey.
4. Step 3. Invited providers respond to the RFP and upload a finalist presentation video.
5. Step 4. Committee members grade each response by service category.
6. Step 5. A weighted scorecard compares candidates based on your priorities.