Plan Benchmarking

The best way to determine whether an employer is providing the best available plan to its employees is to benchmark the plan against other programs of its size with similar plan demographics.

• Are the plan’s expenses the lowest available?
• Are the plan’s investments meeting standards established within the IPS?
• Is the plan professionally administered and serviced?
• Is the Plan’s Investment Committee comfortable with its role and is it effective in its actions?

WhartonHill Advisors’ professionals have conducted hundreds of benchmarking engagements for plan clients. We will find any hidden fees, benchmark the performance of plan investments, determine how much revenue your plan generates for the plan providers, and assess your options for reducing your plan’s overall costs.

We go beyond standard vendor-provided proposals to get the critical information to determine whether your plan’s costs are reasonable. Our reports evaluate whether a plan’s needs are being fulfilled or could best be served by another vendor(s). We will put our experience to work for you in negotiating better pricing or enhanced services. Finally, if it makes sense to switch providers, we help negotiate a favorable outcome for your plan and your employees.
Vendor Search & Selection – Selecting your 401(k) vendor is a serious fiduciary obligation.  We help you develop your selection criteria, guide you through the vendor evaluation process, give you our recommendation, and help you manage the implementation process.

We benchmark your plan in these areas:

1. Costs - our clients fees are reasonable given level of services provided.  
2. Funds – our client funds are continuously benchmarked to standards established in Plan IPS.
3. IPS (Investment Policy Statement) – do you have one? Last reviewed?
4. Do you have a formalized Investment Committee?
5. Evaluate the plan features vs. other companies in your industry group