Is the grass really greener?

Employers are often besieged by vendors who claim their products are the answer to every problem. But will changing vendors solve your problems or simply introduce new ones?

Before leaping into the unknown, we recommend a thorough examination of your plan and your current vendor relationship. Adjustments may help you avoid the demands a conversion places on your human resources, accounting, and financial staff - and the frustration of a blackout period. We know what your existing vendor is capable of, and we can help you optimize the service you receive.

If a change is in your best interest, we will take your plan to the entire marketplace and match your needs to vendors with products known to provide a solution. Through it all, we'll help guide and smooth the conversion process.

Cobb Retirement Solutions has no short list of preferred vendors that pay a referral fee or commission. Our fee is based on the number of vendors included in the search and the desired amount of support during the conversion process.

Following are some of the services we offer.

Plan Review

• Meet with management to discuss all plan-related issues
• Review plan documents and current vendor contracts
• Analyze current investments and overall fund line-up
• Review current investment policy statement/practices
• Quantify all soft- and hard-dollar costs
• Research opportunities to maximize vendor efficiency
• Present findings and recommendations

Request for Proposal

• Prepare customized request for proposal (RFP)
• Query vendor community to determine
• suitability and interest
• Submit RFP to vendors selected
• Review findings and prepare analysis
• Field all vendor questions
• Present findings to client management
• Facilitate site visits and finalist presentations
• Participate in final negotiations for pricing and service

Conversion

• Review all vendor materials
• Help modify investment policy statement
• Aid in creation of new investment menu
• Conduct on-site education and enrollment meetings

Due Diligence

• In order to fully evaluate a plan, the most current form of the following items is helpful:
• Vendor contract(s)
• Last 12 months of vendor invoices
• Plan document
• Summary plan description
• Enrollment kit
• Latest discrimination testing results
• Latest Form 5500
• Plan-level investment balances
• Latest actuarial valuation (defined benefit plans)
• Investment policy statement
• Minutes from last investment/committee meeting
• Listing of all office locations (including the number of employees at each location)