A competitive vendor search, whether through a full-scope request for proposal (RFP) or a more limited request for information (RFI), is an exercise that will have an immediate, lasting and potentially significant impact on retirement program participants. An RFP or RFI presents an opportunity to make meaningful changes to your organization’s retirement program to ensure it is competitive, up-to-date and aligns with your goals. In addition, recent retirement plan litigation has highlighted the importance of a competitive bid process: this widely-accepted best practice can also serve as a shield against claims of fiduciary dereliction. So, if a competitive search is prudent, when is the right time to get started? That answer may depend on how you answer the following questions: What are the goals of my organization’s retirement plan as it relates to my business and my employees? There are many benefits for an employer to start a retirement plan, including having a tax-advantaged vehicle