Case Study

Recordkeeper Oversight for Complex Portfolio of DB and DC Plans


A Fortune 100 manufacturing firm with a decades-long history of acquisitions had just four staff members managing retirement plans for more than 100,000 employees worldwide. In all, the company was managing more than a dozen pension and 401(k) plans for diverse employee populations including managers, union members and international employees. At different points in time, the company had offered both traditional defined benefit pension plans and pension equity plans, and some employees had accumulated benefits under both types of plans.

In short, the company’s vast size, combined with the complex nature of its benefit offerings and ongoing acquisition deals, created a never-ending list of issues requiring close coordination with the plan recordkeeper — which the understaffed corporate team didn’t have the capacity to manage.