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  • Writer's pictureRPA Editorial Team

Who Does What?

Who Does What?

In order to keep your plan in good standing, you rely on the support of service providers. As the plan sponsor, you are a valuable member of a 4 part team that also includes your TPA, recordkeeper, and advisor. Each must uphold their portion of roles and responsibilities to maintain a stable and well-standing retirement plan. Much like a barstool — if one leg fails to support, you may find yourself in an uncomfortable position. 

Plan Sponsor Responsibilities

  • Operate the plan solely in the best interest of participants and beneficiaries 

  • Act prudently, as defined by the Prudent Persons Rule 

  • Follow the Plan Document

  • Benchmark costs to maintain reasonable fees 

  • Monitor and diversify investments 

  • Monitor service providers 

  • Deposit participant deferrals and employer contributions 

  • Employee education & enrollment 

  • 404(c) Compliance

TPA Services

  • Customized Plan Design 

  • Participant loan services 

  • Processing distributions

  • Reconcile participant & employer contributions 

  • Preparing annual returns & reports 

  • Required regulatory plan testing 

  • Amending & restating plan documents 

  • Calculation & allocation of employer contributions 

  • Calculating participant vested percentages

  • Consult with Plan Sponsor & recommend changes

  • Monitor changes to legislation & regulations

Recordkeeper Services

  • Track retirement plan assets 

  • Your retirement plan website 

  • Account statements 

  • Investment performance reports 

  • Participation rates analysis 

  • Employee communications 

  • Fee and fiduciary disclosure information 

Advisor Services

  • Employer/ Employee Advocacy 

  • Comprehensive plan reviews 

  • Fee benchmarking 

  • Investment selection & monitoring

  • Develops Investment Policy Statement (IPS) 

  • Provider Liaison 

  • Retirement readiness reporting

  • Employee education & enrollment

888.689.5530 703.893.7322


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