Tools and Resources

ADP Advisor ®

Winter 2009 | Volume 20 No. 1

New ADP ACCESSSM lets 401(k) sponsors switch providers while maintaining their current mix of funds

Unhappy with your 401(k) plan provider? Happy with your funds lineup? A new ADP offering lets you change the former while keeping the latter.

Launched this past September, ADP ACCESSSM is a comprehensive 401(k) solution that includes world-class investment options, a comprehensive employee education program, and record-keeping services. It also integrates with ADP payroll, reducing the work of updating deferral amounts, calculating loan repayments, and gathering census data.

The switch can be worthwhile, especially when clients take advantage of ADP’s employee education program, iPlan.iSave.iBenefit®. According to a study conducted in 2008 by Chatham Partners, when sponsors changed to ADP and scheduled employee meetings with ADP Education Specialists, participation rates increased by 13%.

No need to change the investment mix

In most cases, 401(k) plan sponsors can upgrade to ADP ACCESS without requiring participants to change their investments. With a choice of more than 6,000 funds, ADP is generally able to maintain the previous plan’s lineup. If a fund option is not currently available on ADP’s investment platform, ADP will work with the investment management firm to make that option available.

“Changing 401(k) providers isn’t easy,” notes John Guido, Division Vice President of Marketing and Strategy, ADP Retirement Services. “Many plan administrators have qualms because they don’t want to reposition their participants’ investments into a new set of funds and potentially lock in unrealized losses. ADP ACCESS, in most cases, lets a plan sponsor maintain their existing 401(k) fund lineup — even in plans with as little as $1 million in assets.”

For more information on ADP Retirement Services offerings, call 1 800 432-401k, Promo Code 454; or visit www.adp.com/401k.

Contact Us

adp

Get a Payroll Price Quote

Call 1.800.CALL.ADP,

ext. 411

Find the ADP products and
services that best fit your
company's needs.

Subscribe to the ADP Advisor®

Please enter your e-mail address to subscribe.
E-mail Address: