Most employers—prompted by increasing plan complexity, growing employee expectations, and shifting demographics—outsource the administration of their defined benefit (DB) plans, the foundation of retirement income for millions. Today, Aon Hewitt supports more than 1,600 DB plans across 430 plan sponsors covering more than 8.2 million participants. In 2013, PLANSPONSOR magazine ranked Aon Hewitt as the top provider of DB administration, including the largest number of total DB plans, largest number of DB participants, number of cash balance/hybrid plans and largest number of nonqualified DB plans.
With more than 40 years in the DB administration business, Aon Hewitt is one of the premier providers of outsourced defined benefit administration services in the United States. Our industry-leading technology, HR expertise, and focus on quality and automation translate into reduced risk and legal costs while promoting a superior experience for participants. What's more, our proven processes streamline administration and help you implement or react to organizational change with minimal employee disruption.
Our defined benefit administration services include:
Our web-based planning and management resources ensure smooth and accurate DB plan administration:
Employees benefit from using our robust participant web site to make more informed benefit decisions. Guidance is included to help participants through the entire retirement event, including all benefits and relevant external considerations. Meanwhile, the Aon Hewitt Personal Finance Center gives employees access to additional planning tools for retirement.
DBCalc™ is a trademark of Hewitt Associates LLC