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Finding “Best Fit” in a Retirement Plan Provider Through the RFP Process

By Harry Koolen and Jim Reed

RFP ProcessMuch has been written about what plan sponsors should include in a Request for Proposal (RFP) when they embark upon a search to hire or replace a retirement plan provider. But written proposals submitted in response to an RFP will never capture all of the essential elements that plan sponsors should assess in selecting a provider. Our research and experience suggests that any RFP evaluation should also consider what we call the “Three P’s of Fit” – Philosophy Fit, Product Fit and People Fit – and in this downloadable White Paper, we outline a detailed framework to design and manage the RFP process within these constructs.

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© Fleischer Jacobs Group 2006-2007

 

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