3(16) Plan Administration

With TPS 3(16) Service, LLC as the 3(16) fiduciary, employers can rest easy knowing that all plan decisions are made in the best interest of the participants.

Now more than ever, outsourcing responsibilities to a qualified 3(16) fiduciary makes sound business sense.

3(16) Plan Administration

Does Plan Administration Take Up Too Much of Your Time and Resources?

ERISA's stringent requirements for Plan Sponsors have made the administration of retirement plans even more complex and subject to legal challenges. Now more than ever, outsourcing these responsibilities to a qualified 3(16) fiduciary makes sound business sense.

As the delegated 3(16) plan administrator, TPS 3(16) Service, LLC:

  • Relieves staff of many of the day-to-day administrative burdens associated with sponsoring a plan. 
  • Reduces liability and audit risk
  • Increases HR capacity
  • Helps to ensure full ERISA compliance

TPS 3(16) Service, LLC includes:

  • Eligibility tracking
  • Invitation to the plan for newly eligible employees
  • Beneficiary maintenance
  • Monitoring of ongoing deposits to ensure timely processing
  • Handling participant phone calls and processing transactions without Plan Sponsor involvement
  • Using discretion to approve and process loans, distributions, hardships and QDROs
  • Monitoring loan repayments
  • Signing Form 5500 as the assigned 3(16) plan fiduciary
  • Attending and leading the Annual Fiduciary Meeting
  • Overseeing the timely distribution of annual disclosures and notices.

Please note TPS 3(16) Service, LLC does not monitor service providers.

With TPS 3(16) Service, LLC as the 3(16) fiduciary, employers can rest easy knowing that all plan decisions are made in the best interest of the participants. There's no need for staff to spend their valuable time on ERISA requirements that demand a high level of knowledge to interpret and apply. Our experience and expertise frees you and your employees to focus on what matters most: running your business.

Every company is different. We take the time to understand your unique needs and preferences. We're not a volume-driven national chain, and we customize solutions to match your specific business goals. Quality service is what you deserve. 

Plan Fiduciary Services and Why They Matter

You may not recognize that, as a sponsor of a qualified retirement plan, you have a very important fiduciary role based on your control and authority over the administration of your plan.

Why Choose Us?

  • We can help you improve efficiency, quality, and effectiveness of your business processes through fully integrated payroll and retirement solutions, and manage your benefits administration.
  • Excellent customer service is our top priority. Our people bring a wealth of talent, knowledge, and experience, and many have worked for us for ten years or more. You'll always speak to a knowledgeable person when you call us; we don't waste your valuable time.
  • We demonstrate the highest standards when it comes to business practices and processes in the financial and retirement world. We're CEFEX-certified and consistently ranked in the top by CEFEX auditors in many key business operational areas.
  • We understand and keep abreast of federal and state regulations. You'll have peace of mind knowing that your company is in compliance with all reporting and filing requirements.

Related to: Third Party Administrator, TPA, Pension Plan Design Consultant, Retirement Plan Design, Pension Consultant, Third Party Benefits Administrator (TPA)

Reviews

Highly impressed with their level of expertise and outstanding customer service.

Highly impressed with their level of expertise and outstanding customer service.

I highly recommend TPS Group and their quality third-party administration for our 403(b) plan. During our long relationship with TPS Group, we have never failed to be impressed with their level of expertise and outstanding customer service. They keep their promises and it’s easy to work with them. Having our own rep Lauren McNabb is a plus!

- Don Senecal

"Extremely Helpful to Our Business"

"Extremely Helpful to Our Business"

Malinda deserves special recognition. She is prompt, courteous, and professional. We find her to be extremely helpful to our business.

- Angela Simino

"Wonderful To Work With"

"Wonderful To Work With"

My go to professional is Des. A wonderful person to work with. We can count on him to handle all of our needs.

- Andrea Blakeslee

"Answers All Of My Questions In A Clear Manner"

"Answers All Of My Questions In A Clear Manner"

Our case administrator, Susan, has been absolutely wonderful and is a joy to work with. She is very knowledgeable, patient, answers all of my questions in a clear manner, and is professional.

- Kathy Townsend

Extremely Valuable to Myself and Our Company

Extremely Valuable to Myself and Our Company

Kathleen has helped me gather info and understand text so many times and is extremely valuable to myself and our company.

- Elizabeth Robison

Very Responsive And Clear To Requests And Questions

Our service representative, Carol, is outstanding and very responsive and clear to requests and questions. Very professional yet pleasant.

- Jane Surmecewicz

They are a pleasure to work with and we highly recommend their services.

They are a pleasure to work with and we highly recommend their services.

For many years we’ve relied on TPS Group’s extensive knowledge and industry expertise to keep us in compliance with state and federal regulations as well as changes in the law. Their attention to detail is just what we need to keep our business operations running smoothly. They are a pleasure to work with and we highly recommend their services.

- Dan Neal

TPS filled in the gaps within our small HR department

Working with Kim and her talented team helped us fill in the gaps within our small HR department. I strongly recommend TPS for HR tasks that don’t warrant hiring a full-time team. Thanks again Kim!

- Jake F

Knowledge and Expertise

Excellent customer service can be hard to find, but not with TPS Group! I know when I do business with Phil Coco, I can expect a quick response. I rely on his knowledge and expertise, and highly recommend TPS Group for their pension services.

- Mark Catullo

Dependable, experienced, and professional

Dependable, experienced, and professional

Dependable, experienced, and professional, our TPS Group recruiter was an invaluable resource, helping us locate and vet quality talent.

- Tyler R. Vunk

Contact us about 3(16) Plan Administration

Sign Up for Future Updates