ADP, LLC issued the following announcement on Oct. 7.
With more than half of U.S. workers planning to remain part of the workforce until at least age 65, companies are increasingly finding their employee retirement needs and related responsibilities growing – and in turn, the need for a more comprehensive retirement services plan. To help businesses navigate the evolving workforce, ADP enhanced its retirement services offering with the launch of SMART-3(16) to provide outsourcing support for businesses of all sizes. This comprehensive solution designates a third-party provider to fulfill plan administration responsibilities to help manage fiduciary responsibility, reduce client effort, and simplify their experience.
Included as part of ADP's holistic retirement services solutions, SMART-3(16) helps to manage the day-to-day operations of time-consuming retirement plans, including delivering notices to participants on behalf of a plan sponsor. SMART-3(16) is available in various cost-effective service models and levels as part of ADP's retirement services program.
"ADP Retirement Services introduced SMART-3(16) because our clients were searching for a cost-effective solution to reduce their liability and the efforts associated with plan management, so they could spend more time on their business," said Kristin Andreski, general manager of retirement services at ADP. "The new solution is another way we're helping our clients to efficiently manage the full employee lifecycle, from hire to retire."
To learn more about ADP Retirement Services and its SMART-3(16) program and how to streamline costs and administrative work, contact 1-800-432-401k [1-800-432-4015] for information.
Original source can be found here.