Changing DC Plan Recordkeepers Can Be Complex

Steps for a Smooth and Successful Transition

Over the years, defined contribution plan services have become more standardized. Yet the process for transitioning to a new recordkeeper is still complex. It can also be painful.

Operational risks associated changing recordkeepers include:

• Unexpected disruption to participant accounts
• Lengthy blackout periods
• Potential for lost data
• Possibly costly reconciliations
• Misunderstood communications

That’s why recordkeeper transitions need to be carefully managed. Our report covers:

• Five steps for successful implementation and management of risks
• Three critical components of painless recordkeeper transition