Mercer HR Services Launches Mercer Retirement Solutions
NEW YORK, NY, October 31, 2005 -- Mercer HR Services today announced the launch of Mercer Retirement Solutions, an integrated outsourcing offering for defined contribution (DC) and defined benefit (DB) plan sponsors. This offering - which includes plan management, asset management, administration, and employee communications - allows employers to effectively address the costs, complexities, and risks of all aspects of their retirement plans.
Mercer Retirement Solutions builds on Mercer's global expertise in retirement consulting and plan design, its DC and DB administration capabilities, as well as its integrated employee communication and education services. Combined with Mercer's multi-manager asset management platform, delivered by Mercer Global Investments, Mercer now offers a total retirement solution that helps plan sponsors reduce plan costs, while improving service and satisfaction with retirement benefit programs for employers and their employees.
"As the global leader in retirement services, Mercer has the experience and insight needed to deliver a truly complete total retirement solution," said Jeff Miller, President of Mercer HR Services. "With delivery and administration of retirement plans becoming more complex, and fiduciary risk becoming a greater concern, plan sponsors are looking for partners to help them manage their retirement plans for maximum efficiency. We believe Mercer Retirement Solutions sets a new standard in the fast-growing total retirement outsourcing market, as a seamless solution that uniquely addresses employers' needs."
Total retirement outsourcing allows retirement plan sponsors to receive both DB and DC services from a single provider. Whereas "stand-alone" retirement plan services are projected to grow by single digits, the market for total retirement outsourcing is projected to grow 15% to 20% annually as employers seek a holistic solution to their retirement plan challenges. Mercer Retirement Solutions is ideally suited for companies with 3,000 or more employees and with retirement plan assets of $100 million or more.
"A unique aspect of our offering is that our clients are able to outsource the investment management process for their retirement plans," said Chris Herman, Americas Business Leader for Mercer Retirement Solutions. "By acting as a fiduciary in investment manager selections, we help reduce the risk and disruption associated with hiring and replacing individual investment managers."
For more information about Mercer Retirement Solutions, please contact Chris Herman at 1.617.670.2460 or Doug Vander Linde at 1.312.902.7881.
About Mercer Human Resource Consulting
Mercer HR Services is a unit of Mercer Human Resource Consulting. Investment advisory services are provided by Mercer Global Investments, Inc. Mutual funds are offered through Mercer Securities, a division of MMC Securities Corp., member NASD/SIPC. The companies are wholly-owned subsidiaries of Marsh & McLennan Companies, Inc., which lists its stock (ticker symbol:MMC) on the New York, Chicago, Pacific, and London stock exchanges.
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