Doing the right thing for our clients is our focus at DPS. It is our privilege to serve you, and keep you abreast of all the regulatory and industry changes in the retirement field. You’ve most likely heard a lot about ‘Open Architecture’ but may be cloudy on what it truly encompasses, and what benefits it can bring to your retirement plan. At DPS the benefits of retirement plans are not hidden in complexity but revealed through education. Our goal is to help you make an informed decision whichever service provider you choose.
Open Architecture Recordkeeping
Often referred to as “daily” recordkeeping, Open Architecture is a 401(k) 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 70,000 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
| Service | Details |
|---|---|
| Record Keeper Integration |
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| Custodian Integration |
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| Other |
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Transition to Open Architecture
