Are Multiple Plan Providers Creating Unnecessary Risk?

OCTOBER 6, 2026

Retirement plans have grown increasingly complex, and the pace of change continues to accelerate. SECURE 2.0 introduced numerous provisions affecting plan design, administration and compliance, with key deadlines now approaching. Employers must navigate automatic enrollment requirements, student loan matching provisions, Roth catch-up contribution rules and required plan document updates, all while ensuring their providers remain aligned and accountable.

When these responsibilities are spread across multiple providers, organizations often experience processing errors, inconsistent compliance testing and a lack of clear accountability. If those errors surface during an IRS audit, the consequences can be significant, potentially including plan disqualification for both the employer and plan participants.

If you have multiple providers for your retirement plan, ask yourself: 

• Do we have one clear point of contact for every aspect of our plan?
• Are providers coordinating on evolving compliance requirements and deadlines?
• If a processing error occurred, would we know immediately — and who is responsible for resolving it?

With a bundled solution, you have one point of contact for all plan services, and you may experience lower costs because you're working with just one provider. Bundled solutions can be a good fit for virtually any type of retirement plan, including traditional 401(k) and 403(b) plans, as well as nonprofit, collective bargaining or plans combined with a defined benefit/pension plan.

Achieve Your Organization's Goals With ONESource Solution

USI's ONESource Solution bundled services program is mutual-fund-based, which eliminates additional insurance expenses and improves employees' ability to meet their retirement goals. Through ONESource Solution, USI is uniquely positioned to serve as both your full-service recordkeeper and co-fiduciary advisor, providing a fully integrated, cost-effective solution. Key features include:

• Integrated recordkeeping for tracking participant account balances and investments.
• Accurate, comprehensive and responsive administrative services for tracking plan eligibility, contribution calculations, compliance testing and Form 5500 preparation.
• Compliance resolution expertise to simplify complex compliance issues and mitigate risk, including guidance for evolving SECURE 2.0 requirements.
• Independent investment advice and solutions to provide objective guidance and help employers select and monitor their plan’s investment options — not our own investment products.²
• Customized employee education, communications and resources designed to increase participation, improve savings rates and strengthen overall retirement readiness.
• Plan design benchmarking with proprietary analytics to help optimize your retirement plan design features to meet your organization's objectives and boost recruiting and retention efforts.
• Dedicated service team support throughout implementation and ongoing plan administration, consulting, education and compliance management.

When you partner with USI's ONESource Solution, additional benefits include:

• Single point of contact through your account manager who serves as your advocate and coordinates all plan activities with your dedicated service team at USI.
• Data protection wherever your information is stored and whenever it's created, transmitted or processed.
• Quarterly plan management reporting and access to online plan reporting tools.
• Access to trustee and custodial services.
• Compliance testing support, including annual review of plan documentation and ongoing monitoring of regulatory changes.
• Fiduciary training and consulting via our in-house team of experienced professionals, including ERISA attorneys.

Case Study: How One Employer Reduced Costs and Increased Participation

Recently, an employer sponsoring multiple 401(k) plans administered by a variety of providers chose to consolidate services with USI's ONESource Solution. This helped the client improve reporting, streamline compliance oversight and increase efficiency for transaction processing.

USI helped the client develop an enhanced employee communications strategy, including digital and in-person education, which helped increase plan participation by 25%. By consolidating services with USI, the organization reduced service costs by 30%.³