System and method for evaluating defined contribution plans

A method of evaluating a retirement plan, comprising the steps of:

• a. receiving data corresponding to a plurality of retirement plans;
• b. storing the data in memory on at least one web-accessible computer;
• c. determining from the data, via a processor associated with the at least one web-accessible computer, a fee component associated with each of the retirement plans and for each of a plurality of service providers associated with the retirement plans, comprising the steps of
• identifying a plurality of fee sources and an amount of fees associated with each fee source for each of the service providers, and
• for each of the service providers, normalizing the amount of fees associated with each fee source;
• d. determining from the data via the processor a cost component associated with each of the retirement plans and for each service provider, comprising the step of
• determining a plurality of complexity metrics, a plurality of plan and participant services metrics, a plurality of accuracy metrics, and/or a plurality of timeliness metrics,
• e. determining from the data via the processor a value component associated with each of the retirement plans and for each service provider, comprising the step of
• determining a plurality of participant success metrics, and/or a plurality of fiduciary support metrics;
• f. assembling, via the processor, a comparison group from among the plurality of retirement plans;
• and
• g. providing, via the processor, a comparison of the fee component, the cost component, and the value component associated with a selected retirement plan to the fee component, cost component, and the value component associated with the comparison group.

A method of evaluating a retirement plan, comprising the steps of:

• a. receiving data corresponding to a plurality of retirement plans;
• b. storing the data in memory on at least one web-accessible computer;
• c. determining from the data, via a processor associated with the at least one web-accessible computer, a fee component, a cost component, and a value component associated with each of the retirement plans and for each of a plurality of service providers associated with the retirement plans;
• d. assembling, via the processor, a comparison group from among the plurality of retirement plans;
• e. providing, via the processor, a comparison of the fee component, the cost component, and the value component associated with a selected retirement plan to the fee component, cost component, and the value component associated with the comparison group;
• and
• f. delivering via the processor and via email to a user at least one report comprising the comparison.