On Thursday I will be speaking at the Tax Exempt/Governmental Entities Council meetings in Baltimore. This is an annual event that I always look forward to because it gives me the opportunity to listen to the views of government policy makers and to my brethren in the "art" of employee benefits. This year is no exception, and I am delighted to be presenting the truly important and current topic of plan administrator outsourcing. In my allotted time I will be focusing on the Report of the Advisory Council on Employee Welfare and Pension on plan outsourcing and the recommendations that were made in the report.
Outsourcing is Worth a Careful Look
Outsourcing has piqued the interest of many plan sponsors because it gives them the opportunity to focus on their core business, shift responsibilities away from themselves to a third party expert, and limit fiduciary risk. For plan sponsors weary of weary of these burdens, this service is worthy of consideration. Advisors that want to add another quiver to their bow should also seek to understand outsourcing and find credible vendors to provide it for their clients that want the service.
Look for My White Paper
In the next few weeks, I will be publishing a white paper for those who are considering plan administrator outsourcing arrangements. Please look for my announcement. For those that would like a copy of my meeting remarks, please email me.