More plan sponsors want to combine their defined contribution and defined benefits plans, a study by
The study indicated that bundling plans lets sponsors improve efficiencies and eliminate redundancies, thus cutting costs. Companies that integrate their plans are able to merge the education, planning, and transition processes leading up to retirement, helping employees maximize their benefits, the report said.
"Given todays economic pressures, companies are looking for ways to streamline the delivery of their benefit programs, and one way to accomplish that is to bring together the administration and servicing of multiple plans," said Peter J. Smail, president of Fidelity Employer Services, which supplies human resources administration and employee benefits services to more than 14 million plan participants.
