August 21, 2012 (PLANSPONSOR.com) - SCI Companies enhanced its 401(k) solutions in an effort to increase participation rates for its clients.
Effective immediately, RBF Capital Management Inc. will be SCI Companies’ new investment advisory firm, replacing a more than five-year relationship with Transamerica Retirement Services. The new solution from RBF Capital will offer open-architecture plans, in which employees have the flexibility to design their own retirement plan from a greater spectrum of investment options. Another benefit of open-architecture retirement plans is the total transparency associated with provider fees.
“The future of deferred retirement plans is fee transparency and customization,” said Rafal Baranski, CEO of RBF Capital. “The ability to identify and track plan expenses, customize plan choices and modify investment features will now give the plan sponsor complete control. A retirement plan is not a commodity, as in ‘one size fits all.’ Rather, it should be an important employee benefit tailored to suit the plan sponsor's goals and needs.”
RBF Capital also formed partnerships with ExpertPlan, which will assume plan administrator and recordkeeper responsibilities, and MG Trust, which will be the plan custodian and clearing platform, to give participants the benefits of full-service and support programs.
More about SCI Companies is at http://www.scicompanies.com.