What happens when you squeeze a vendor too tight

Andy Adams and Jay Schmitt, ASA Thought Leadership

When a plan sponsor (or search specialist working on the plan sponsor’s behalf) squeezes a vendor too tight, the resulting contract may come with an attractive price tag, but it will set plan sponsors up for a downstream nightmare of quality and service issues that negatively impact both plans and their participants.

How to tell if you’re paying reasonable fees for actuarial services

Leslie Olds, FSA, EA, FCA, MAAA Thought Leadership

As a defined benefit (DB) plan sponsor, it can be difficult to determine whether the fees you are paying for actuarial services are reasonable. Here are some ways to evaluate whether actuarial fees are in line with the services provided.

Plan sponsors should do their homework before offering student loan assistance

Jay Schmitt, ASA Thought Leadership

Student loans can be a distraction that diminishes employee productivity and may prevent employees from achieving their financial wellness goals. In response, employers have recently begun introducing benefit programs designed to assist employees with their student loan debt.

(Webinar) Financial wellbeing: practical considerations and insights for employers

Jay Schmitt, ASA Thought Leadership

Program length: 60 minutes Register and view now (available through March 2021) Interest in financial wellbeing programs hit a fever pitch after the pandemic-related events of 2020 exposed weaknesses in employees’ preparation and readiness for volatile economic circumstances. Industry research confirms that financial wellbeing has become a topic of considerable interest to employees and a top priority for many organizations. Evaluating potential …

Pandemic sharpens focus on employee financial wellness

Leslie Olds, FSA, EA, FCA, MAAA Thought Leadership

COVID-19 has made financial wellness a hot topic in 2020 as employees seek to become more financially resilient. Here are some initial steps plan sponsors can take to gauge how well employees are using their existing benefits and determine whether additional financial wellness benefits are called for.

‘Free’ plan implementation can come with big costs

Andy Adams Thought Leadership

“Free implementation” has become a ubiquitous element of benefit plan administration proposals. The appeal to plan sponsors is understandable, but rest assured, with free implementation, you get what you pay for. Understanding the true cost of implementation will help plan sponsors evaluate potential benefit administrators and initiate the implementation process with eyes wide open and a more realistic budget.