Governance processes enforce adherence to policies and procedures. On the investment side of ERISA, regular reviews and evaluations of investments and investment managers is nearly universal.
However, plan administration presents as much risk as plan investments. Administrative noncompliance can result in sanctions. Ineffective administration can create needless employee relations issues. Thoughtful administrative governance to manage plan providers mitigates these risks.
Effective provider management is all about building trusted relationships with your partners and providers.
Working with Curcio Webb
Curcio Webb can ensure your partners and providers are meeting their obligations. We can help you build the tools and develop (or provide) the skills needed to effectively manage benefit administration providers by:
Developing policies and procedures to manage employee and compliance issues
Reviewing change orders
Updating administrative process documentation
Negotiating better fees and performance standards that drive accountability and satisfaction
Structuring steering committee meetings
Ensure that provider agreements accurately reflect plan design, technology and regulatory requirements
Our Governance Experience
Curcio Webb has been able to save companies a substantial amount of money, especially in the areas of change management and fee negotiation. Because we have such a deep understanding of benefits administration projects, we are uniquely suited to help organizations establish and follow governance standards.
Our team members are comprised of subject matter experts. We do not believe that generalists can drive the specific outcomes our clients desire. Curcio Webb consultants have a varied background, which includes working for providers, global consulting firms, and industry. In addition, we have actuaries who joined Curcio Webb from large consulting firms and an ERISA attorney who served as an internal benefits attorney for two Fortune 50 organizations.