The Association for Financial Professionals (AFP) is readying a
Request for Proposal (RFP) template to help treasury and finance
professionals evaluate 401(k) plan service providers. For more
information click here.
The RFP was developed in response to AFP member requests for
guidance on selecting 401(k) plans. The RFP comes at a time when
treasury's role has expanded to include pensions and benefits. Meanwhile, legislative and regulatory scrutiny over the investment of these
funds has increased. As a result, treasury professionals are now
being asked to join the 401(k) plan retirement committee and share
in the fiduciary responsibility for the prudent management of the
"The goal of the RFP is to assist plan sponsors in finding the bundled 401(k) plan service provider that is best suited for their
retirement plan," said Salome J. Tinker, CPA, Director, Accounting
and Financial Reporting Policy for AFP.