Defined Contribution Plan Administration | Aon

Defined Contribution Plan Administration

Defined contribution plans are the cornerstone of most current retirement benefit packages and are a critical part of employees' retirement security. These plans are complex and demand a high level of specialized knowledge, legal expertise and technical accuracy. Their success relies upon the decisions employees make—how much to save, where to invest, and whether and when to withdraw funds.

Employers face an evolving and increasingly aggressive compliance environment. Legislatures and regulators are challenging the transparency and fairness of fees and the investment choices provided to participants. Litigation involving plan sponsors and their fiduciary obligations to protect participants' interests has increased dramatically. And, uncertainty over the financial security of an aging workforce is causing broad concern. Aon Hewitt can help.

Aon Hewitt is the leading independent retirement plan provider for companies committed to their employees' retirement success. We help plan sponsors maximize participant retirement outcomes, minimize fiduciary risk and control total plan costs. And, with our unbiased position, Aon Hewitt is best suited to help your participants make informed choices and wise decisions about their retirement.

We deliver the full spectrum of retirement benefit solutions to meet your needs today and in the future. Our solution covers:

  • Qualified and nonqualified strategy and plan design
  • Communications
  • Investment monitoring and consulting
  • Compliance
  • Recordkeeping
  • Brokerage window
  • Advisory services

Most importantly, you get a solution that offers:

  • Independence – We deliver independent, objective plan guidance and oversight for plan sponsors and participants so you can achieve optimal total plan cost with superior investment options, develop retirement programs that support overall business and HR goals and reduce fiduciary risk.
  • Consulting Expertise – Our consultative approach provides you with the maximum return on your benefit dollar by helping you make faster and more effective decisions, increase employee retirement awareness and reduce internal resource drain.
  • Large Plan Knowledge – We are experts in serving the retirement plan needs of mid-sized to large organizations. Our knowledge and experience with more than 100 of the largest defined contribution plans in the U.S. reduce compliance risk, offer you peace of mind, and provide continually improving sponsor and participant tools.
  • Industry-Leading Research – Our proprietary research and industry leadership drives plan results and participant retirement readiness so you get superior cost and behavioral predictions, improved data-based decisions and can stay current on legislative changes impacting your retirement plans.
  • Superior Service Delivery – Aon Hewitt's people, process and systems ensure the optimum quality and governance for your retirement program. Our state-of-the-art technology and experienced teams move more than $400 million nightly in 401(k) funds, and $120 billion annually. Our service team’s holistic view of your retirement plans allows us to become an extension of the HR department and address potential service problems. Meanwhile, our state-of-the-art call center support and advanced web site promote your brand and strategies.

We help improve participant financial security while minimizing sponsor risks and managing total plan costs.

Value-Added Services from the Leading Authority

We deliver the tools and expertise needed to help plan sponsors manage their plans more effectively.

  • Our annual individual client benchmarks provide a detailed analysis of participant behaviors and compare them to specific industries and the broader Aon Hewitt universe. As a part of this review, we set goals for the plan and identify areas for improvement.
  • Our Plan Sponsor Portal is an online space where our teams work with you to develop goals, manage projects and measure progress.
  • Our robust reporting capabilities delivered via the Plan Sponsor Portal provide near-time access to all of the data and behaviors you want to track to measure the success of your plans.
  • The Aon Hewitt 401(k) Index™ summarizes monthly 401(k) transfer activity for 1.5 million participants, giving employers deep insight into employee behavior patterns.

Cutting-Edge Resources for Employees

Our online participant site delivers a satisfying experience whether the participant accesses the site via a computer, a mobile phone, or anything in between. Included in the experience are modeling tools, helpful articles and content, and tips and hints about improving savings and investing behaviors. Because of our independence, our suggestions and guidance are based upon your goals, not our own financial interests, so your employees can have confidence there are no ulterior motives.

The Aon Hewitt Personal Finance Center gives employees access to additional planning tools and guidance for retirement planning.

Aon Hewitt Self-Directed Brokerage Accounts empower your employees to take greater control over their investment decisions.

Aon Hewitt Financial Planning supports your employees in all unique financial circumstances with financial education and independent planning services.

Aon Hewitt 401(k) Index™ is a trademark of Hewitt Associates LLC.

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