Plan Level Administration Under
ERISA section 3(16)
THERE’S MORE TO IT THAN YOU THINK
We provide a complete service.
Why limit yourself to just outsourcing the
- coordination and authorization of distribution requests
- coordination and distribution of participant notices and
- the signing of the form 5500?
The 3(16) fiduciary also has the responsibility to fully document all plan related activities, select and monitor all other service providers and select and monitor the plan’s investments.
We believe, maintaining independence between the Plan Administrator and the TPA and Recordkeeper provides critical checks and balances, maintaining un-conflicted oversight of these all important services. A plan sponsor should recognize that not all 3(16) fiduciaries provide the same level of service, often leaving the plan sponsor with much more than just a duty to prudently select and monitor those they have hired as an outsourced fiduciary.
Those plan fiduciaries that do not have the time, feel unqualified or unsure of what is required to fulfill the day to day administrative needs of an employer sponsored retirement plan could benefit by appointing a 3(16) fiduciary to take ownership of this important responsibility.
We step between you and the plan, dramatically reducing your fiduciary liability.