New England Retirement Consultants Implements $3 Million in Operating Savings for Clients

BOSTON, Feb. 23 /PRNewswire/ -- New England Retirement Consultants, LLC (http://www.ne-rc.com) completed calculating the two year operating savings for clients offering retirement programs to employees.  New England Retirement Consultants (NERC) saved clients in excess of $3 million in operating expenses for 401(k), 403(b) and pension plans for 2008-2009.

ERISA mandates plan sponsors ensure "reasonableness" of all fees associated with sponsored retirement programs.  NERC revenue/fee analysis, identifies, benchmarks, negotiates and implements the savings for client's plans.  NERC typically negotiates a three year contract with selected vendors thus ensuring "lock in" fees going forward.

"Calculating average investment expenses is just the tip of the iceberg," said Jay Gepfert, Managing Director at NERC.  The real savings and work come from under the surface that most sponsors don't have time or expertise to identify and implement.  "Many of our prospective clients can save between 10-40% in operating expenses," says Glenn Jensen, Managing Director at NERC.  Some plan sponsors do not understand that their plan providers do not have a duty under ERISA to proactively identify the total revenue or expenses of the plan.

The fee analysis is a standard services offering for NERC retained consulting relationships but is also offered on a project basis for non retained relationships.  NERC charges either a fixed fee or performance fee if organizations want to save on up front expenses and have NERC have "skin in the game".

NERC (http://www.ne-rc.com) offers both discretionary fiduciary and non-discretionary consulting services.   NERC works with 401(k), 403(b), pension and endowment and foundation funds.   Primary services include investment monitoring and evaluation, cost containment of operating fees and management of fiduciary responsibilities.   NERC has offices in Boston, CT and NJ.

    
    
    Contact:
    Jay Gepfert
    Managing Director
    New England Retirement Consultants
    Independence Wharf
    470 Atlantic Avenue, 4th Floor
    Boston, MA 02210
    617-535-6946 
    [email protected]  

SOURCE New England Retirement Consultants, LLC