Provider Search / Fee Benchmarking:

EFA utilizes dedicated resources to employ both quantitative and qualitative metrics. The final output is the B3 Provider AnalysisTM, which represents the benchmarking offees, services and investments in one comprehensive report.

B3 Process

By leveraging our intellectual capital and robust consulting tools, we lead plan sponsors through the RFP / benchmarking process—from the initial proposal requests to the final analysis, and even conversion management assistance (if and when warranted).

KEY ATTRIBUTES:

  • Since 2011, the B3 Provider AnalysisTM system has received over 20,000 live pricing quotes from service providers and has produced over 5,000 benchmarking reports.
  • On a semi-annual basis, the our RFP Department collects updates from 90+ providers to ensure current data is maintained in its proprietary B3 Provider AnalysisTM database.
  • The final report output includes 450+ data points in key areas including recordkeeping, investment management, compliance services, employee education and technology.
  • Total Cost Analysis shows bottom-line dollar amounts of incumbent and bidding providers, and includes revenue sharing analysis for full fee transparency.
  • RPAG routinely meets with service providers to stay abreast of product enhancements and conducts site visits to ensure ongoing qualitative due diligence.
  • B3 Provider AnalysisTM services can be applied to 401(k), 403(b), 457, Non-Qualified and Defined Benefit plans ranging from under $1,000,000 to over $1,000,000,000.