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Article: 401(k) technologies help plan sponsors weather storms.
- Article from:
- Employee Benefit News
- Article date:
- April 1, 2004
CopyrightCOPYRIGHT 2004 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Volatile markets, fee pressures, corporate and mutual fund scandals and competition have created many a rainy day for retirement plan sponsors in recent years. However, according to a new report from Celent Communications, plan providers' investments in 401(k) technology have helped employers weather the storms and even find a silver lining.
"Technology spending has been imperative in order to meet the ever-increasing demands of sponsors while keeping costs in check," says Celent senior analyst Pamela Brewster and coauthor of the report, 401(k) Technology Update - Navigating Through the Storm. Celent estimates the top 50 401(k) providers spent $132.5 million last ...