How to Properly Conduct an RFP
When:
Hosted By:
International Society of Certified Employee Benefits Specialists
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Location:
New Orleans, LA
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With the continued wave of ERISA fee class action lawsuits, it is critical that plan sponsors and fiduciaries properly select—and monitor—their service providers. One way to ensure this is by periodically taking the plans out to bid. The session will go over critical questions and issues to address during the RFP process, as well as recent court case examples in which the plaintiffs argued that the RFP process was flawed, leading to excessive fees paid by the plan. Get best practices and know the traps for fiduciaries to avoid.
Takeaways:
- A thorough understanding of fiduciary duties related to contracting with service providers
- How to effectively conduct an RFP
- How to negotiate a favorable contract for the plan
