Business Services Industry
Outsourcing defined benefits yielding employer savings. (defined benefit pension plans)
Business Insurance, May, 1997 by Hofmann, Mark A.
Do-it-yourself might make sense around the house, but it's rapidly making less and less sense for employers that administer defined benefit pension plans. Employers, which have long out-sourced the administration of their defined contribution plans, are discovering that they can reduce overhead and enhance quality by doing the same with their defined benefit plans.
While the process is not without some potential pitfalls, outsourcing defined benefit plan administration appears likely to grow only more popular in the near future, say experts. "The main reason for wanting to outsource the work is that outsourcing allows economies of scale," such as heavy investments in new technology, said Priscilla Craven, benefit vendor and communications manager for Digital...
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