Search
 

Why Two When One Will Do?

Using the same outsourcer for DB and DC plans can benefit both employers and employees

By Staff Writer | Updated on September 01, 2005

When it came to management of its 53,000-participant defined benefit (DB) pension plan, NCR Corp., the $5.9 billion manufacturer of automatic teller machines and retail scanners, was ahead of the curve in 2001. It was already saving money by outsourcing the plan administration–a practice not all that common at the time. It was also outsourcing its 18,000-participant 401(k) plan–but to a different provider. This bothered executives at the company: Wouldn’t it be more efficient and less costly to use one vendor? And even better, wouldn’t the employees be provided a more integrated view of their retirement assets? So NCR decided to go with its DC plan administrator, Fidelity Human Resources Services Co. The company has never looked back. “We’re increasing our ability to deliver through their technology, their platform,” says Michael Kriner, NCR’s director of global benefits. “It’s much more cost-effective. It’s better service. It’s taking advantage of technology. We could never duplicate that in a pre-outsourcing environment.”

TAKING PLANS TO THE NEXT LEVEL

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2024 ALM Global, LLC. All Rights Reserved.