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401(k) Administration Services


If your company is looking to save time and money during the initial stages of the buying process, ProcurementIQ’s 401(k) Administration Services procurement research will provide you with the tools necessary to do just that. This report breaks down the data and analysis behind buying 401(k) Administration Services, such as pricing dynamics, supply chain risks and external demand drivers. Your company will also gain expert negotiation tactics to help gain leverage when working with suppliers.
doneBenchmark Price
doneRFP/RFQ/Negotiation Questions
done3 Year Price Forecast
doneSupply Chain Analysis
doneSupplier Intelligence
doneSample Buyer Decision Scorecard

401(k) Administration Services - Recent Price Trend

The price for 401(k) administration services has declined at an estimated annualized rate of 4.3% in the three years to 2018. This price trend can be largely attributed to the introduction of regulation forcing companies to disclose fees more clearly, which has driven down the price. The rise in the number of lawsuits that employees have brought against employers for levying unfair fees for.

401(k) Administration Services - Total Cost of Ownership

The total cost of ownership for services is high. On average, buyers can expect to pay much more than 100.0% of the benchmark price per year. Typically, suppliers can charge buyers for Department of Labor or IRS audits, plan amendments, plan migrations, plan terminations, investment fees, asset certification letters and more. Buyers should ask for a fee schedule in order to determine what charges.

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About this Report

This report is intended to assist buyers of 401(k) administration services. Providers of 401(k) administration services assist management and human resources (HR) personnel in the design, recordkeeping and management of their employees' retirement plan. Suppliers process employee claims related to retirement plans in order to free up buyers' internal resources. This report does not cover compensation and benefits planning services or insurance claims processing services.

Table of Contents

At a Glance

Executive Summary

Price Environment
 Price Fundamentals
  Benchmark Price
  Pricing Model
 Price Drivers
 Input Cost Drivers
 External Demand Drivers
 Recent Price Trend
 Price Forecast

Product Characteristics
 Product Life Cycle
 Total Cost of Ownership
 Product Specialization
 Related Goods
 Subsitute Goods
 Quality Control
Supply Chain & Vendors
 Supply Chain Dynamics
  Supply Chain Risk
  Geographic Locations
 Competitive Environment
  Market Share Concentration
  Vendor Company Types
 Market Profitability
 Switching Cost

Purchasing Process
 Buying Basics
 Buying Lead Time
  Selection Process
  Buying-Decision Scorecard
 Key RFP Elements

Negotiation Questions

Buyer Power Score Components

Jargon & Glossary

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