Pension plans in the U.S. have changed considerably over the last decade with many plan freezes, closures, and de-risking strategies. This change has driven many Curcio Webb clients to look differently at defined benefits administration.
If you have already outsourced (or co-sourced) your defined benefits administration, it is important to consider whether it is prudent to undertake a focused renewal with your current provider or consider a search for a new provider. A sensible timeframe would be 18-months prior to the end of the contract. We recommend you start by downloading the Search vs. Renewal Checklist that provides more details about your options.
Working with Curcio Webb
If you are exploring new options for managing your defined benefits administration projects, we can help you in several ways:
- Creating the delivery model strategy
- Renewing administration service agreements, while ensuring clients receive competitive contract terms, performance standard commitments, financial terms, and appropriate service scope
- Searching for a new defined benefit administration provider (outsourced or co-sourced)
- Supporting data cleanup and automation projects
- Leading or assisting with the implementation, including pension calculation testing
- Performing operational reviews comparing how administration and data are working relative to requirements