Defined Benefit Administration
Top-notch administrative expertise managing–and reducing–plan’s liabilities and risks
Conduent Defined Benefit administration solutions
As economic instability continues to loom, both businesses and their plan participants are facing an uncertain reality. For companies with pension plans–reducing liabilities, risks and administrative costs are critical to future successes. For their employees, having a well-funded pension plan with modeling tools across their benefits can help them feel more confident in their retirement security.
For more than 40 years, we have implemented defined benefit administration services for the most complex defined benefit programs. As an expert in the field, we can provide you with a comprehensive set of defined benefit solutions that deliver outstanding customer service, ensure compliance and accuracy, and reduce cost and risk. Our flexible solutions are configured to meet your requirements and plan nuances.
Recognized by NelsonHall as a leader in next-generation benefits administration 5 years in a row for our integrated technology and comprehensive solutions, we bring our clients best practices that drive operational improvements, savings and participant satisfaction including:
- Best-in-class defined benefit plan participant and sponsor experience, including high-touch, white glove advocacy and guidance, for special events
- De-risking strategies, including proven pension risk transfer (PRT)/annuity conversion and term vested lump sum payment programs
- Expertise to support special initiatives such as early retirement windows and merger/acquisition activity
- Frozen defined benefit plan administration
- Data remediation and audit services
- Plan sponsor support tools, such as compliance management, reporting and program data analytics
- Interactive modeling tools to support informed decisions about plan options and retirement preparedness
Defined benefit solutions at-a-glance
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40+ years experience
providing defined benefit administration solutions
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7+ years experience
providing Pension Risk Transfer (PRT) solutions
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300+ plans
administered for plan sponsors
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≈ 4.6 million
defined benefit accounts managed
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95% automation
of complex defined benefit calculations
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≈ 4.75 million
defined benefit estimates processed online annually
Schwab Retirement Plan Services expands defined benefit plan capabilities through a support agreement with Conduent
Industry leaders Schwab Retirement Plan Services (SRPS) and Conduent have collaborated to strengthen total retirement administration and bring clients even more value.
Schwab selected Conduent to launch an expanded set of capabilities to serve defined benefit plans, leveraging Conduent’s industry specialists, administrative processes, and platforms–all while providing an integrated experience for plan sponsors and their participants.
More than ever, retirement plans and financial well-being solutions are critical components of an employee benefits package. That’s why we’re excited to take this latest step with SRPS in our continuous efforts to enhance how we support a total benefits experience–with meaningful participant outcomes.
