Rite-Solutions Named Finalist in 2022 Plan Sponsor of The Year Award
Rite-Solutions was recently named a finalist in the annual Plan Sponsor of the Year awards program in the Corporate Defined Contribution category with $25M to $70M in 401(k) plan assets.
MIDDLETOWN, R.I., June 16, 2022 /PRNewswire-PRWeb/ -- Rite-Solutions was recently named a finalist in the annual Plan Sponsor of the Year awards program which recognizes retirement plan sponsors' commitment to their participants' financial health and retirement success.
Nine different categories were used to allow for comparisons across plan types and sizes. Rite-Solutions was one of four finalists in the Corporate Defined Contribution category with $25M to $70M in 401(k) plan assets.
"We're honored to be a finalist in the prestigious Plan Sponsor of The Year Award. Hundreds of reputable companies with strong retirement plans were nominated," says Chad Seelig, Rite-Solutions Chief Financial Officer and 401K Committee Chairman. "This award is a direct representation of our goal to provide 'Best of Breed' benefits to our employees. Offering a robust, nationally recognized retirement plan is one of many benefits available to our workforce."
Entries were judged against other nominations in the same category and on the basis of optimal practices specific to each plan sponsor's industry. Rite-Solutions was selected as a finalist because of its plan design and ongoing initiatives to strengthen this benefit.
The committee has revamped its funds line-up, adopted safe harbor matching, increased company matching, and enhanced its participant retirement training program.
In addition, Rite-Solutions has increased their Retirement Plan development capabilities by carefully selected Angel Pension Group as their third-party administrator, Strategic Retirement Partners as their fiduciary investment managers, AAFCPA as their auditing firm while benchmarking and continuing to work with T. Rowe Price's platform as the Record Keeper. They have also implemented cost benchmarking initiatives to ensure long-term fiduciary responsibility of its plan for employees.
"The company is highly motivated to do what's in the best interest of our employees," says Seelig. "A strong retirement program is mutually beneficial to the organization and its employees."
About Rite-Solutions:
Rite-Solutions, Inc. is an award-winning firm specializing in system engineering, software development, information technology (IT), and cybersecurity for government and commercial segments. Rite-Solutions is a CMMI-DEV V2.0 Maturity Level 3 appraised, and ISO 9001, ISO 14001, and ISO 27001 certified organization with offices in Rhode Island, Connecticut, and Washington D.C. For more information, please visit http://www.rite-solutions.com.
About PLANSPONSOR:
PLANSPONSOR, with its reputation for editorial integrity, objectivity, and leadership, is the trusted information and solutions resource for America's retirement benefits decision makers. With its powerful array of customer-driven marketing programs, PLANSPONSOR offers industry providers an unparalleled ability to reach this influential audience. With all of the changes within the retirement industry, plan sponsors and advisers rely on PLANSPONSOR magazine to help them stay informed of crucial issues and important new innovative solutions. For more information, please visit http://www.plansponsor.com.
Media Contact
John Thornell, Rite-Solutions, 1 8604154882, [email protected]
SOURCE Rite-Solutions
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