Benefits of consolidating vendors

Posted by / 30-Sep-2019 16:38

Benefits of consolidating vendors

For example, the hurdles presented in a multi-vendor consolidation strategy are many, but not insurmountable and worth the effort.The changes in the ERISA world have begun to affect the large market 403(b) and 457(b) plans.

Annuities provide greater security for those who desire that above all else, and have a place during the distribution phase of retirement.This means that the investment selections available are not determined by thoughtful consideration of what is in the best interest of the contract holder, but by which investment company has negotiated a spot on the investment lineup for that insurance company.In this scenario, underperforming investment options are not necessarily removed.We need to be willing to customize the options to most effectively meet the needs of our clients.That requires skillful navigation around obstacles such as surrender charges, recordkeeping and varying degrees of liquidity as we tackle unwinding of a lot of individual contracts. In several states, non-profit organizations are required to offer multiple vendors to participants.

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