Various benefits of ADP retirement plans include investment objectivity, ease of administration and retirement readiness, according to ADP. Plan transfer is also a common benefit.
The focus is not on selling investments to clients; rather, it is on helping the client and its employees navigate to retirement success with objective information and no biases so they can make the right financial choices. The interests of ADP are aligned with those of the customer, states its website. The investment platform provides access to the world of nonproprietary products.
Retirement administration is made easy, explains ADP. A client who is already an ADP payroll customer has a flawless integration between its payroll and the plan recording systems, which implies huge gains in efficiency. The advantages are numerous: minimal administrative effort; timely, automated updates; and reduced risk of error.
Employees become ready for retirement, notes ADP, and clients gain confidence through the ongoing education programs and guidance. When they understand the benefits, they are likely to enroll and use the benefits to full potential. The plan transfer incorporates a simple process. It starts with a “health check” of the client’s current plan, and then an evaluation of its compliance risk and side-by-side fee and investment comparison.