SBA employs a methodical, time-tested, repeatable search process in the evaluation and selection of prospective vendors. Regardless of the type of search (e.g., DB plan administrator, H&W plan administrator, 401(k) plan recordkeeper, etc.), our process always begins with the identification of our client’s key buying criteria and required service set. The key buying criteria ensure that the unique aspects of our client’s business requirements are explicitly represented in the RFP. The baseline service set ensures that prospective vendors are bidding on the same set of services, enabling a true apples to apples comparison.
SBA’s methodology is unique because of the time and energy we dedicate to vetting and supporting prospective vendors throughout the RFP process. Whether clarifying the key buying criteria or assisting vendors in the preparation of finalist presentations, SBA will spend as much time working with vendors as they desire. Experience has shown that this approach of making ourselves available to the prospective vendors and being ready to discuss RFP details produces the best experience for both our client and the selected vendor.
Because our consultants have designed, set up and run benefits outsourcing operations and sales teams for large outsourcers and consulting firms, SBA has a unique perspective that can be used to the client’s advantage in evaluating vendors, understanding their sales techniques and strategies and navigating the confusing world of fees, service-level agreements (SLAs) and contracts. And as an independent, unbiased third party, SBA is ideally positioned to be the “client advocate” in guiding the vendor evaluation process.
In addition, SBA can assist with the implementation of the chosen solution once the search process is complete. This support service is another key differentiator from our competitors.
This service is available for the following benefit plan types:
| Defined Contribution |
Defined Benefit |
Health & Welfare |
Non-Qualified |
|---|---|---|---|