RAC Creates Template RFP for Higher Ed Plan Advisors

The Retirement Advisor Council (RAC) has developed a template for a request for proposal (RFP) that institutions of higher education can use in searching for advisors for their retirement plans. RAC makes the template available free of charge and with no copyright restrictions.

Users can customize the template, which includes 77 questions. The RAC intends the questionnaire to help plan sponsors to gauge advisors’ experience with institutions like theirs and their perspective on implementation and transition.

The template covers services retirement plan advisors commonly provide, including:

• investment services;
• participant services;
• provider services;
• fiduciary support; and
• compliance support.

The template can be accessed by clicking here.

The RAC’s website also provides a model protocol for conducting a search for a retirement plan advisor.