Scoring Criteria for a
Recordkeeping RFP

Recordkeeping and administration of retirement plans is multifaceted, and the proposals for these services reflect that complexity. The proposals also serve as marketing documents for the vendors and must be evaluated with an eye for differentiation and services. A scoring matrix can assist in evaluating vendors during a Request for Proposal (RFP) process. The substance of most proposals fits within one of the eight categories:

• Organization
• Client Service Model
• Participant Education and Communication
• Administration and Compliance
• Technology
• Implementation
• Investments 
• Fees

Read our full resource explaining why each of the eight categories are important criteria to review, as well as our areas of consideration for each category as you evaluate service providers.

For a complete toolkit of materials to help you prepare, review, and evaluate recordkeeping vendors, click here.