What to Know:
- Conduent will work with Schwab Retirement Plan Services to administer defined benefit plans for plan sponsor clients.
- The collaboration combines Conduent’s deep expertise in pension management with Schwab Retirement Plan Services’ workplace financial benefits expertise to deliver high quality services to defined plan benefit clients.
- Conduent will leverage its technology and expertise to provide participants and plan sponsor clients expanded capabilities, including:
- Data analytics, compliance and reporting tools for plan sponsors
- Expert support for data remediation and audit services and special initiatives such as early retirement windows and mergers and acquisitions
- Interactive calculators to help participants make decisions about plan options and retirement preparedness
- De-risking strategies including proven pension risk transfer, annuity conversion and term vested lump sum payment programs
- Administration for frozen defined benefit plans
Read the announcement:
Schwab Retirement Plan Services Expands Defined Benefit and Deferred Compensation Plan Capabilities Through Support Agreements With Conduent and Newport
Schwab Retirement Plan Services (SRPS) today announced plans to launch an expanded set of capabilities to serve defined benefit plans and nonqualified deferred compensation plans. SRPS will work with two recognized industry leaders to help build out the offering - Conduent Incorporated (Nasdaq: CNDT) in the defined benefit area and Newport, an Ascensus company, in the deferred compensation area.
To learn more about how Conduent is
- helping businesses enhance their HR technology,
- reducing the complexity of retirement plans to make them easy for employees to understand,
- helping companies to provide valued benefits and
- improving business outcomes,