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3(16) Administration—Make the Path Simple

We hear a lot of conversations among clients and advisors debating the value of a 3(16) Plan Administrator. A 3(16) Plan Administrator is the fiduciary who manages the day-to-day administration of a retirement plan, not only performing traditional Third Party Administrator (TPA) services, but accepting…

Fumbling the Fiduciary Ball

…still eligible employees. If an employer only reports actual participants to the TPA, many of those TPAs don’t check. We insist the sponsor report all employees to us — even those they may believe are not otherwise eligible.” In other words, a trusted, reliable TPA

Understanding the Importance of BOLI Third Party Administration

…unable to demonstrate a thorough understanding of BOLI products it has purchased and the associated risks may be subject to supervisory action.” So what can a third party administrator (TPA) actually do for a bank’s BOLI purchase? With its fee-for-service-only structure, a TPA does not…

The “Definitive” List of Best States to Retire In

…say South Dakota is your best bet, while Business Insider and WalletHub give the nod to Florida; New Hampshire and Wyoming have also topped such lists in the recent past. For my purposes, I’ve divided the 50 states into five tiers, from “best” to “worst.”…

Your TPA Partner Can Help You Win Business

Your TPA Partner Can Help You Win Business When it comes to the administration of retirement plans, most TPAs can execute the work pretty competently. And while there are differences in quality of process and internal expertise, most of this is technical work that happens…

You Get What You Pay For

…where a Third Party Administrator (TPA’s) responsibility begins – and where it ends – is critical. Hiring a TPA can be an expensive proposition, especially for smaller companies, who understandably are looking to save money where they can. But some companies offering 3(16) TPA services…

New Self-Certification Rules for Hardship Distributions Should Be Embraced

…working to implement the changes that are required for recordkeeping and third-party administrator (TPA) firms. Please note, however, that in order to implement those changes, certain processes, procedures and controls need to change. Paperwork and sign-off statements need modification. Programming changes also need to be…

The Federal Government May Be Getting Serious About Retirement – Finally

…the quality and transparency of investors’ relationships with investment advisers and broker-dealers. Under the SEC’s proposed “Regulation Best Interest,” a broker-dealer would be required to act in the best interest of a customer when making a recommendation of any securities transaction or investment strategy involving…

CEFEX TPA Benefits to Advisor

How does an advisor benefit from partnering with a CEFEX-certified TPA? And why is it important? Listen in to find out more….

Five Key Concerns for Retirement Plans in 2020

…a DC plan (at the cost of time spent on other aspects of his or her business) seem slim, we recommend looking at outsourcing such duties to a reputable third-party administrator (TPA). In addition to providing plan document services, compliance testing and Form 5500 preparation,…