Encore Fiduciary (Formerly Euclid Fiduciary) Releases Authoritative Benchmark Survey on Recordkeeping Fees for Large Defined Contribution Plans

CHICAGO, Jan. 23, 2024 /PRNewswire/ --  Encore Fiduciary, formerly known as Euclid Fiduciary, a division of Specialty Program Group LLC (SPG), is pleased to announce the release of a valuable resource and risk management tool for large defined contribution plan fiduciaries: The Encore Fiduciary Large-Plan Recordkeeping Benchmark Survey. Authored by Daniel Aronowitz, President of Encore Fiduciary, this study accompanied by a detailed whitepaper, offers a comprehensive benchmark of the recordkeeping fees paid by sponsors of large defined contribution benefit plans.

This survey, which draws on data from over 2,500 large plans with assets exceeding $100 million, and over 1,000 participants for the years 2020, 2021, and 2022, seeks to provide clarity and understanding in the complex landscape of recordkeeping fees. It's a valuable tool for plan sponsors, enabling them to make informed decisions and understand the appropriate costs associated with recordkeeping services.

Daniel Aronowitz, President of Encore Fiduciary, emphasizes the importance of this study: "Our survey offers an unprecedented level of insight and perspective in an area that has been a source of litigation risk for many plan sponsors. Our objective was to empower plan sponsors with the knowledge to make better fiduciary decisions and navigate the often-challenging terrain of fiduciary responsibilities. We also wanted to lower litigation risk for plan sponsors by providing a reliable benchmark that validates the cost of plan administration and recordkeeping for large defined contribution plans."

The survey is more than just a response to the wave of fiduciary imprudence lawsuits seen in recent years. The Encore recordkeeping benchmark provides concrete, reliable data for plans fiduciaries to understand what similarly sized plans are paying for recordkeeping services. This allows plans sponsors to meet fiduciary obligations to act in the best interests of their plans participants.

 "This recordkeeping survey is a testament to Encore Fiduciary's commitment to serving as thought leaders and advocates in the fiduciary space. We are not just providing data; we are offering insights and guidance to help plan sponsors safeguard their interests and those of their participants, said Christopher Treanor, President and CEO of SPG.

Download Encore Fiduciary's Benchmark Survey.
To learn more about Encore Fiduciary visit encorefiduciary.com.

Euclid Fiduciary Rebranded to Encore Fiduciary

Euclid Fiduciary is pleased to announce a significant milestone: the company is now rebranded as Encore Fiduciary. This rebranding is more than just a change in name; it represents an evolution in the company's vision and commitment in the fiduciary management sector. Encore's new identity is not only a symbol of change but also a testament to growth and expansion, a result of the partnership with Specialty Program Group (SPG).

With the support of SPG, Encore is poised to scale new heights in capabilities and reach. This strategic alliance with SPG provides Encore with a range of resources and opportunities, enabling it to expand its services and market influence.

While embracing this new chapter, Encore Fiduciary assures its clients and partners that its core values and dedication to providing expert solutions will remain unchanged. The transition to Encore brings with it a reinforcement of these values, now coupled with greater opportunities for innovation and service excellence. The rebranding reflects a commitment to maintain the essence of what has always defined the company, while opening new avenues for growth and success. To learn more about this exciting rebranding visit encorefiduciary.com/euclid-is-now-encore/

About Specialty Program Group

Specialty Program Group LLC (SPG) is a leading specialty platform headquartered in Chicago, IL, with a diverse portfolio of specialty insurance operations spanning underwriting management, digital solutions, wholesale and specialty retail brokerage, and insurance services. SPG has a track record of scaling industry leading businesses by providing access to business resources, technology and process efficiency, capital and investment, deep carrier relationships, and a broad distribution network. Visit specialtyprogramgroup.com to learn more about how SPG can help you scale your specialty business.

About Encore Fiduciary

Encore Fiduciary, the new identity of Euclid Fiduciary is a division of Specialty Program Group that serves as a leading provider of fiduciary liability insurance for America's employee benefit plan sponsors and fiduciaries. The Encore Fiduciary team is known for its fiduciary expertise, thought leadership, and advocacy for America's plan sponsors.  For more information contact Daniel Aronowitz at [email protected]  or John O'Brien at [email protected].

CONTACT:
SPG Media: Christopher Lamitola
Phone: 908-790-6749
[email protected] 

Encore Fiduciary: John O'Brien
Phone: 571.730.4810
[email protected]

SOURCE Specialty Program Group