Risk Compliance Performance Solutions Announces Partnership With Aon Hewitt To Offer Locator Services
Companies collaborate to offer comprehensive services to locate and communicate with lost or missing retirement plan participants and reunite them with their assets
DRESHER, Pa., Sept. 26, 2013 /PRNewswire/ -- Risk Compliance Performance Solutions (RCP) announced it has been selected by Aon Hewitt, the global talent, retirement and health solutions business of Aon plc (NYSE: AON) as its preferred provider of locator services for its defined contribution and pension administration clients. Using its flagship PLANSCAPESM and OUTREACHSM solutions, RCP will search for and communicate with lost or missing retirement plan participants. RCP Solutions' Retirement Plan Management Services Division is a leader in ERISA Plan compliance and termination advisory services. Aon Hewitt is the largest independent provider of administration services for retirement plans, serving more than 14 million retirement plan participants in the U.S.
"We are delighted that Aon Hewitt has entrusted us with the job of supporting its clients and helping clients manage their fiduciary responsibilities. As a risk and compliance focused company, we believe that advocating for the participant is the best course of action to mitigate any risks to the plan sponsor," said Caroline M. Castagno, Chief Executive Officer and Partner of RCP Solutions. "By creating seamless and integrated solutions, RCP and Aon Hewitt will streamline participant location and outreach processes and provide plan sponsors a one-stop solution, reducing the administrative burden of meeting these obligations."
"We are pleased to work with RCP to assist our clients in locating lost and missing retirement plan participants," said Rob Martorano, Vice President of Defined Benefit Practice Leadership for Aon Hewitt's North American Benefits Administration business. "RCP plays a key role in working with us to help clients locate missing participants and helping to reunite participants with the benefits they are due—ensuring the best outcomes for plan participants."
The Retirement Plan Management Services division helps plan sponsors, record keepers and custodians mitigate risks such as missing participants in active, frozen, closed and terminating defined contribution and defined benefit plans. Other services include defined contribution plan termination management, un-cashed check mitigation strategies, including distribution and treasury management, as well as custom plan data analysis and outreach solutions.
About RCP Solutions
Risk Compliance Performance (RCP) Solutions specializes in risk management, compliance, communications and outreach programs that drive performance and positively impact the bottom line. It is a women-owned business and the executive team has more than 100 years of combined experience in a variety of industries and disciplines bringing a wealth of knowledge, excellence and innovation to all of its services. Driven by state-of-the-art technology solutions, RCP integrates the many facets of business, risk, compliance and management to achieve the best results for clients. For more information, please visit www.rcp-solutions.com.
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