At TPS Group, we offer all of the services you need to simplify the management of your company retirement plan and to maintain compliance.
At TPS Group, we offer all of the services you need from a TPA Third Party benefits Administrator to simplify the management of your company retirement plan and to maintain compliance.
Third Party Benefits Administrator (TPA) Divisions
Payroll and Tax Management
Group Medical Benefits
Third Party Benefits Administrator (TPA) Services
Payright’s Evolution software is extremely flexible. Employers can accrue and track paid time-off with an option to create unlimited time-off accrual codes, and accrue based on pay frequency, employee anniversary dates, or per hours worked.
Gain better control of your cash flow and expenses. Our workers’ compensation services provide efficiencies by having premiums based on your actual payroll deducted automatically from each payroll cycle. No up-front deposits requirement (to avoid year-end audit issues) and a time savings on administration.
Offering your employees Flexible Spending Account Benefits. FSAs offer many benefits for both employers and employees, including substantial savings on qualified healthcare expenses.
These plans are designed to supplement benefits that you, the employer, offer. Usually the employees pay for the plans, certain plans can be offered on a pre-tax basis and by paying that way it saves the employer FICA. Why wouldn’t you have these available?
A simple, low cost, innovative approach to Prevailing Wage Law Compliance. Our program offers an easy to understand solution that satisfies DOL requirements, while providing an open shop contractor the opportunity to not only lower their expenses, but reduce their liability.
Third Party Benefits Administrator (TPA) Team Members
Partner and Vice-President
Benefit Consultant, Buffalo, NY Location
Third Party Benefits Administrator (TPA) Resources
Safety laws training compliance assistance
Payroll guidance and information
Benefit plan compliance and assistance (health and retirement) COBRA HIPPA
COBRA Continuation Coverage - Resources for Employers, Advisers, Workers & Families
Third Party Benefits Administrator (TPA) Frequently Asked Questions
Usually the employees pay for the plans. Certain plans can be offered on a pre-tax basis and by paying that way it saves the employer FICA.
Some of the most common types of Voluntary Benefits plans are:
- Critical Illness
- And more
A Roth 401(k) is an increasingly popular option within a 401(k) plan that represents a combination of features of the Roth IRA and a traditional 401(k) plan. In a traditional 401(k), you contribute income pre-tax, and then pay taxes on the funds when you withdraw them during retirement.
By offering a Roth 401(k) option, employees can elect to pay the taxes upfront allowing them to make withdrawals tax-free during their retirement.
Under the Roth 401(k), employees may contribute funds on a post-tax elective deferral basis, in addition to, or instead of, pre-tax elective deferrals under their traditional 401(k) plans.
If you establish a profit-sharing plan, you:
- Can have other retirement plans
- Can be a business of any size
- Need to annually file a Form 5500