In Paper No. 6, Drew Carrington of Franklin Templeton encourages plan sponsors to find out from plan providers what options, tools and services are available in designing a retirement tier. To this end, Carrington provides a sample e-mail request form that plan sponsors can fill out and e-mail to their plan providers.

In filling out the request form, he said that plan sponsors should advise the plan provider that the highlighted products, solutions, tools and services be of institutional quality; that they not create additional material risk exposure; and that they not require extensive integration or material redesign of existing programs or processes.

Just as important, Carrington said, plan sponsors need to ask the plan provider for their cost and the cost of their implementation; whether they are portable and transferable; and if they carry any associated fiduciary risk.

Carrington said that when giving the record-keeper a copy of the e-mail request to the plan provider, the plan sponsor should also ask the record-keeper for the “Money Out” report.

For copies of each of the association white papers in the series, visit

The Defined Contribution Institutional Investment Association is a nonprofit founded in 2010 by a coalition of 42 industry firms dedicated to enhancing the retirement security of America’s workers.

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