TPA Uses Brightscope Data for Plan Benchmarking

May 28, 2010 (PLANSPONSOR.com) – A New York-based third party administrator is offering a new level of benchmarking to plan sponsor clients.

PlanPerfect, Inc., a corporate retirement plan consulting firm in New York City that services 401(k), profit sharing, and defined benefit pension plans for small to medium size companies, has aligned with BrightScope, Inc., to independently diagnose retirement plans in her marketplace.

According to a press release, BrightScope quantitatively rates individual 401(k) plans against a unique peer group by using algorithms to calculate such factors as average age of participant, vesting schedule, company match, and investment diversity. BrightScope obtains some of its data from public sources such as the Department of Labor, the Securities and Exchange Commission, and the Bureau of Labor Statistics (see BrightScope Launches 401k Plan Management Dashboard).

Armed with BrightScope’s intelligence, Sheree Tallerman, President of PlanPerfect, Inc.,says she is able to evaluate how a plan stacks up against similar plans in the marketplace, both from an overall design standpoint as well as investment structure. She is then able to suggest changes to enhance the plan’s efficiency and maximize return on investments.

Tallerman says that PlanPerfect has no affiliations with any investment management or mutual fund company, which, she says, allows her to make recommendations that are objective, transparent, and solely in the interests of the plan sponsor. 

More information is available at http://www.planperfectretirement.com

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