hand placing puzzle piece marked 401k (Photo: Shutterstock)

The Society for Human Resource Management on Wednesday launched a 401(k). The SHRM 401(k) Solutions by Raymond James program aims to offer a marketplace for employers to shop for a retirement plan with better pricing and time savings, while potentially outsourcing significant liabilities, risks and expertise to successfully manage a plan.

HR professionals often lack both the time and expertise to administer and manage the complexities of offering a 401(k), SHRM says, and this solution is designed to simplify the process. As plan sponsors, employers might outsource various fiduciary functions, including the investment management, plan administration, recordkeeping and educational components of the plan.

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