Products March 12, 2015

Retirement Advisor Council Releases RFP Tool

The Retirement Advisor Council unveiled a free template request for proposal questionnaire for use by higher education institutions looking to select a retirement plan adviser.
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A new template request for proposal (RFP) document from the Retirement Advisor Council is meant to cover all the elements of service typically available from professional retirement plan advisers, especially those specializing in serving higher education institutions.

The RFP document helps sponsors measure investment services, participant services, provider services, fiduciary support and compliance support available from advisory firms. The customizable document includes 77 questions on six pages, and can be obtained in Microsoft Word document form on the website of the Retirement Advisor Council. The organization notes the template is provided for use without copyright restrictions.

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The RFP template questionnaire is an update to a similar template released in 2012, which has been revamped to reflect current best practice thinking. The questionnaire helps plan sponsors gauge adviser experience with institutions like theirs, experience with providers focused on the higher education market, and perspective on implementation and transition.

Strong interest for fiduciary advisory services among higher education institutions led the council to develop this specific model RFP for the sector. A model protocol for conducting an adviser search is also posted on the council’s website. The protocol outlines a suggested process for plan sponsors to select a professional retirement plan adviser, or to perform due diligence on a current adviser.

The RFP template helps sponsors assess how advisory firms can handle legacy non-ERISA 403(b) arrangements with multiple providers and potentially hundreds of investment options.

The Retirement Advisor Council is a national advocacy organization that pushes for successful qualified plan and participant retirement outcomes through the collaborative efforts of experienced, qualified retirement plan advisers, investment managers and defined contribution plan service providers.

Plan sponsors and other human resources professionals can request a copy of the template here. 

Products March 12, 2015

HR360 Offers 2015 Group Health Plan Notices Calendar

HR 360 Inc. updated its Group Health Plan Notices Calendar to reflect 2015 requirements and deadlines.
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The attorney-developed 2015 Group Health Plan Notices Calendar from HR 360 Inc. provides critical information on required notices, disclosures and filings for health benefit plan sponsors—including who must provide or receive them, and when specific notices are due.

The notices are based on requirements prescribed by the Employee Retirement Income Security Act (ERISA), together with other federal laws that set minimum standards for the operation of employee benefits plans. HR 360 Inc. says the calendar features all the major federal notice requirements for group health plans, as well as downloadable model notices, in one easy-to-understand chart.

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Sponsors using the calendar will find guidance on health care reform notices, including model exchange notices; COBRA notices; HIPAA notices; SPD requirements and Form 5500; and special health care notices related to women’s health and cancer rights, mental health parity and addiction equity.

Lillian Shapiro, president of HR 360 Inc., says it can be particularly hard for companies to stay on top of all the different required notices.

“We have over 20 notices featured in the calendar,” she explains. “We hope businesses will take advantage of this convenient tool to help them stay compliant.”

Requests for a free copy of the 2015 Group Health Plan Notices Calendar can be directed to sales@hr360.com.

HR 360 Inc. also encourages employee benefit and human resources professionals to subscribe to its HR library of current federal and state laws and updates, step-by-step guidelines for compliance, as well as how to hire, interview and terminate employees.

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