For many employers in the higher education industry, defined contribution (DC) plans are the primary form of retirement savings offered for plan participants. The plans may have very different designs with varying contribution schedules and benefits provisions. This complexity, along with increased regulatory requirements, can present challenges to plan sponsors trying to administer their plans correctly.
Sibson has a dedicated team of experienced defined contribution professionals with extensive administrative and investment expertise, regulatory and compliance knowledge and experience in plan design, risk mitigation, vendor searches and plan assessment studies.
Sibson can help higher education institutions with their defined contribution consulting needs, tailoring each project to the plan’s specific concerns and objectives.
Careful planning and creativity are needed to ensure that the design of DC programs will meet the goals and needs of plan participants over the long term. Sibson offers a multi-disciplinary approach to assisting with the design of new defined contribution programs.
Likewise, we work with institutions to modify existing DC plans by:
Sibson provides ongoing compliance consulting services for DC plans by periodically reviewing plan documents and operations for compliance with federal legislative and regulatory requirements. We provide specific advice and recommendations for plan changes required to maintain compliance, as well as assist administrators and legal counsel in developing plan amendments.
Our compliance consulting services include advice on the following:
Sibson helps clients address the implications of new and emerging plan requirements and develop an action plan for enhancing current processes and procedures.
Our administration services for DC consulting include the following:
Investment solutions for DC plans are provided by Segal Marco Advisors, our SEC-registered investment consulting affiliate.
As DC plans grow in prominence and asset size, sponsors are continually evaluating their investment options and looking at ways to improve them with the ultimate goal of improving a member’s retirement offering competitive returns at the most reasonable cost possible. Continual evaluation of options is prudent and Segal Marco Advisors works with higher education institutions to ensure they are making optimal investments.
Our investment consulting services include:
To learn more about our comprehensive retirement expertise, including defined benefit and hybrid plans, please visit our Retirement Services page.
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