What It IS

  • An administrative update
  • A no-cost plan review
  • A standard BOR/access form
  • A source of optional plan improvements
  • An engagement where your current recordkeeper stays in place

What It ISN'T

  • A Request for Proposal (RFP)
  • A vendor replacement
  • A procurement event
  • A budget request or new expense
  • A dawn-out, disruptive event
  • Additional workload for city staff

Who Does What

City Administration

  • Provide documentation or sign BOR/Access Form (per plan)
  • Provide existing plan documents/access
  • Review Benchmark & Gap Report
  • Implement approved changes
  • Approve or decline recommended changes

Anew Advisors

  • Plan data review & benchmarking
  • Investment lineup & fee analysis
  • Draft plan optimization recommendations
  • Deliver participant education (If Anew is hired)
  • Annual reporting & governance documentation support (If Anew is hired)

Recordkeeper

  • Issue regulatory participant notices
  • Receive annual reports & committee review (If Anew is hired)
  • Maintain platform and custody assets
  • Process payroll contributions & distributions

The Process

4 Simple Steps

01

Introductory Meeting (30-45 min)

Anew explains what we will do, what we won't do, and confirms fit.

02

Grant Access to Plan Information

Choose one of two options:

Easy Option (Recommended): Sign a simple Broker of Record (BOR) or advisor access form, giving Anew temporary, read-only access to pull plan data, fees, and investment details directly from the current recordkeeper. No vendor change required.

Document-Sharing Option: If you prefer not to sign a BOR form up front, instead provide the necessary plan documents directly to Anew (current fee disclosures, investment lineup, plan documents, recent statements, and participation data, Trust agreement, Summary Plan Description, Vendor/Recordkeeper contract)

03

Benchmark & Gap Report Delivered

Written executive summary covering fees, investments, governance, and education, with recommended improvements and estimated impact.

04

City Decides

Approve, request adjustments, or end the engagement at no cost. If approved, Anew coordinates implementation with the recordkeeper.

What the City Actually Has to Do

Attend a brief 30–45 minute introductory meeting.

Sign one standard advisor-change form OR provide documentation as requested. (Change form varies per plan.)

Review the Benchmark & Gap Report.

Approve or decline the recommended plan adjustments.

Sign off on any plan amendments the recordkeeper requires from the plan sponsor.

Bottom line for administration

One signature starts a no-cost review. The city retains full authority at every step. The current recordkeeper stays in place unless the city later chooses otherwise. Estimated city staff time start to finish: under 3 hours

Schedule a Meeting

Municipal Benefits