A news release said the new program, effective January 1, 2010, features an upgraded annual award as well as a new marketing allowance feature.
According to the announcement, GIAC’s program has no minimum requirements for the number of plans administered or the amount of new plan sales to qualify for the program. The new marketing allowance award starts with the first plan sold with at least $250,000 of takeover assets. The upgraded annual award applies to both start-up and takeover plans when they reach at least $250,000 in assets at the end of their contract year.
“While this new awards program is a welcome enhancement to a TPA’s business model, we know that the primary concern is making sure clients have a top-quality product provider. The Guardian Advantage and The Guardian Choice products provide strong, independently selected and monitored investment options from well-known asset managers,” said Scott Dolfi, Guardian’s executive vice president, Retirement Solutions, in the news release.