Client: |
Ambiance Lighting, Inc.* |
Business:
Employees:
Plan Assets:
Ownership: |
Manufactures light fixtures for home pools, decks, yards
1,406 full-time, 76 temps/contractors
$26.4 million
Publicly traded on the NYSE |
Situation: |
Brought into the company as part of a new leadership team, Jeff Antonelli, CFO, is juggling a lot of balls in his first 100 days. Earnings have been in decline for three quarters, accounting practices need close scrutiny, and the company will be divesting a mature product line. Jeff doesn't need yet another hole in the dyke, as he helps guide the company to a new business strategy.
Jeff is wise to take his fiduciary responsibility to the 401(k) plan seriously and he engages an outside consultant to help sift through the vendor choices. He wants the best for the employees, but he also needs smooth teamwork between consultant and vendor. |
Solution: |
ADP Enterprise Retire - for Large Businesses
For companies needing full flexibility to pick and choose from ADP's full line of services - use a consultant or not. |
Value Added: |
- Customize the right investment platform from carefully screened investment choices – ADP's fund architecture is completely open.**
- Increase participation rates and contribution levels with motivational behavior-based communication, customized workshops and ADP’s highly ranked participant Web site.
- Employer can proactively manage plan needs and changes, as the business changes, with ADP ERISA support.
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*This case study is presented for illustrative purposes only. The hypothetical situation above represents a composite of the typical challenges that face many of ADP's clients for this product. All client and company names are fictitious and any relation to actual names is coincidental and is not intentional.
**Funds must meet ADP's operational underwriting requirement, and in some cases, ADP must obtain certain agreements from the fund company selected. Neither ADP, Inc. nor its affiliates provide investment recommendations or advice, or serve as plan fiduciary.
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