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Administering Your Own Plan: What Could Possibly Go Wrong?

…working in the field, one that offers fiduciary outsourcing and 3(16) administrative services. An independent ERISA Section 3(16) fiduciary relieves an employer of nearly all fiduciary liabilities for their plan. Why is it important to use a 3(16) administrative fiduciary for your plan? Because of…

What’s Included In A Plan Document

No one wants to hear the word “prison” when discussing the administration of retirement plans. But it is unavoidable in one case, which proves how a qualified 3(16) administrator like Pentegra can sometimes prevent clients from hurting themselves. Like most administrators, Pentegra issues plan enrollment…

What 401(k) RESA Legislation Means for MEPs and PEPs

…Pooled Plan Provider (PPP) In order to qualify as a PEP, the PEP must be run by a PPP, who is a named fiduciary identified in the plan document and is also the ERISA Section 3(16) administrator, responsible for ensuring the plan meets qualification requirements…

TPA & 3(16) Solutions

…nationwide, delivering among the highest level of expertise and technical support in the industry today. Our flexible arrangement can include an existing recordkeeper, trustee or investment manager. We take TPA services to the next level as a 3(16) Fiduciary Administrator. Our 3(16) Administrator services offer…

Dealing with the DOL and Missing Plan Participants

…fiduciary outsourcing — the transfer of legal responsibility for a retirement plan to an institutional fiduciary. Many employers select themselves as the ERISA Named Fiduciary, 3(16) Plan Administrator, and Trustee because they believe there are few other options – but that is not the case….

DOL’s Cybersecurity Guidance Arrives Just in Time

…ERISA requires. Cybersecurity Program Best Practices: Assists plan fiduciaries and record-keepers in their responsibilities to manage cybersecurity risks. Online Security Tips: Offers plan participants and beneficiaries who check their retirement accounts online basic rules to reduce the risk of fraud and loss. “The cybersecurity guidance…

What Do The New Fee Disclosure Rules Do?

…arrangements may combine several providers to service your 401(k) plan, including a Plan Administrator, Third Party Administrator (“TPA”), Recordkeeper, Trustee and Custodian, Investment Manager, and Legal Counsel. When one retirement plan service provider serves in most or all of these roles, they are referred to…

Standards for Electronic Delivery Of Required Plan Notices

As a general rule, an ERISA plan administrator may furnish notices to employees electronically. However, the administrator must use measures “reasonably calculated to ensure actual receipt.” To meet the DOL standard for electronic delivery of required plan notices, the guidelines require the following: The participant…

PENTalk™ – The Pentegra 3(16) Administrator SmartPath™

…of the myriad of fiduciary administrative responsibilities that come with that role, or that these responsibilities involve significant risk. Watch our presentation to get a better understanding of retirement plan 3(16) administrative responsibilities and corresponding risks, along with recommendations and guidance for managing these duties.”…

Dialing for DOL Dollars

…effect … even for plan sponsors who believe having a third-party 3(16) fiduciary on board absolves them of all blame. As discussed elsewhere in our Make the Path Simple series, not all TPAs are created equal. Not needing accreditation, complacent, inattentive and/or nefarious TPAs are…

Not So PEPpy? Think Group of Plans

…– SEP, PEP, GoP, or MEP – outsourcing fiduciary duty to a reputable third party can save time, money and hassle. A third-party administrator (TPA) is, by design, someone who can keep track of all of the regulations, deadlines, changes, and other ins and outs…