DPS EASY CHOICE
This service is a type of plan and participant record keeping environment that is not tied to any specific mutual fund family; rather the Employer is free to choose from many fund families (commonly called “Open Architecture”). This allows a more diverse group of fund options under a participant-directed plan, with the goal being to optimize investment performance for the participants by using the best funds available in each asset class at the lowest possible share price. DPS Easy Choice provides online access for participants to manage their accounts and plan their retirement savings.
WHAT IS OPEN ARCHITECTURE RECORDKEEPING
Often referred to as “daily” recordkeeping, Open Architecture is a retirement plan solution which allows an employer to select their service providers (picture to the right) and the level of service from each provider. This solution provides small businesses with the same service as large business at a reasonable price.
You have the option of choosing all or part of the provided DPS services. Regardless of how many services we provide for you now or in the future, we are always here to assist in the selection process to compare and contrast provider features and benefits. We want your plan to be the best for your business and your employees. As your plan’s “gate keeper” to Open Architecture we work with all associated providers to facilitate a smooth process work flow and optimum user experience for you and your employees.
5 Benefits to Our Open Architecture Solution
- Control of how revenue sharing is used
- Choose from over 28,000 investment funds for your plan
- Select the level of professional services that fit your needs and budget through “fee for service”
- A reduction of fee(s) and an increase in returns is typical
- Ability to pay plan service providers as a direct tax deductible employer expense
Snapshot of Open Architecture Services Provided
|Record Keeper Integration||
Transition to Open Architecture