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.