Hiring and monitoring a covered service provider represents a fiduciary responsibility in and of itself. SkyOak serves as the plan sponsor’s advocate and liaison when choosing the best service providers as they move from proposal through implementation, monitoring their service standards along the way and if necessary changing providers.
In our experience of working with multiple vendors over the years, we have identified a preferred list of quality service providers we can recommend with confidence and depending on the type and size of plan best suits your organization.
We look at the following factors:
Availability of start up plans, defined benefit plans, non-qualified plans, cash balance plans, health savings accounts and self-directed brokerage accounts
Transparent and reasonable annual plan costs/fees
Advanced technology of reporting
User friendliness of websites
No proprietary fund requirements
Availability of local representatives to assist with enrollment and provide education to plan participants
Pre-Approved and Recommended: