Vendor Contracting & HR OutsourcingPDF
We have extensive experience supporting employers and fiduciaries as they outsource their employee benefit and other human resource services. We represent employers and plans. Unlike most of our competitors, we regularly decline to represent third-party administrators, trustees, recordkeepers, investment managers and advisers, and others. We do so in order to fully and aggressively represent employers and plans, free from the concern of compromising or taking positions that would be adverse to other client relationships. We take the negotiating or legal positions that other law firms can’t or won’t take because we don’t attempt to juggle conflicting loyalties.
We are familiar with every phase of an outsourcing effort. We have supported or led innumerable RFP, sole sourcing, renewal, benchmarking and other efforts, helping our clients maximize their negotiating position. We have negotiated thousands of contracts, usually serving as the lead negotiator. Our attention to detail makes us the perfect drafters.
Our proficiency covers the universe of human resources and benefits contracts, including:
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We know and have worked on efforts for:
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Clients appreciate that we bring both contracting and substantive benefits and employment expertise. We know the industry standard for each part of the contract, including, for example, current data security standards, typical liability limitations for specific types of services, etc. We also know how and where vendor contracts create prohibited transaction or other exposures for plan sponsors or fiduciaries and how to position a contract for Department of Labor or Internal Revenue Service purposes. We often know the vendors’ template contracts as well as they do. We know the vendors’ negotiating positions and strategies. We know their hot button items, when and where they are likely to meaningfully compromise, and when they won’t.