Trustees for corporate retirement plans are now facing new challenges. Due to generational changes, clients look at the trustee relationship through a different lens.

Clients expect trustees to be able to execute their general duties such as:

  • Administering the plan in accordance with the documents and instruments governing the plan
  • Following ERISA guidelines pertaining to prudence and diligence
  • Not permitting the plan to engage in “prohibited transactions” described in ERISA

Meeting these expectations does not distinguish one trustee from another.

Plan sponsors are focused on issues pertaining to cultural fit, the quality of communication, and the overall quality of the relationship with the trustee. The result of changing expectations, plan sponsors are faced with the decision to remain with the current trustee versus finding a new trustee.

Working with Curcio Webb

Curcio Webb assists our clients with trustee projects in several ways:

  • Benchmarking the trustee’s fees, contract terms and scope of services
  • Renewing trustee service agreements, while ensuring clients receive competitive contract terms, performance standard commitments, financial terms, and appropriate service scope
  • Searching for a new trustee provider
  • Leading or assisting with the implementation

Our Trustee Consulting Experience

Curcio Webb has supported numerous trustee projects for defined contribution and defined benefits plans.  We have worked with numerous clients across all types of industries that sponsor some of the most complicated trustee requirements in the country.  These experiences have allowed us to accumulate considerable amounts of data that is used in all our trustee selection, renewal, and benchmarking projects.

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.