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
Report — March 2018
Public Sector Letter, “Changing DC Plan Recordkeepers Can Be Complex: Steps for a Smooth and Successful Transition”
