A system and method for implementation and administration of an employer-sponsored retirement plan that assists employers and retirement plan providers with managing their fiduciary responsibilities for an employer-sponsored retirement plan by enabling users, such as an employer and a retirement plan provider, to implement and administer an employer-sponsored retirement plan in an efficient, and cost-effective manner, by collecting and analyzing data that is pertinent to a desired employer-sponsored retirement plan; receiving notifications from a notification manager if certain conditions of the retirement plan are met; drafting a retirement request for proposal based on the categorically analyzed data about retirement plan; bidding on the retirement plan from service providers; and monitoring the selected employer-sponsored retirement plan after implementation. The method also includes steps of checking, by an employee, on the status of the employer-sponsored retirement plan; and suggesting, by the employee, to the user to utilize the method.