A Collaborative Effort
Third-Party Administrator: Pinnacle Plan Design
The third-party administrator (TPA) is responsible for ensuring a retirement plan stays in compliance with all federal laws. A TPA is highly knowledgeable and experienced in retirement plan legislation and regulations.
- Designs the plan to achieve company goals
- Drafts and manages the plan document
- Performs employer contribution calculations
- Ensures plan operations are consistent with the plan document
- Completes all mandatory IRS testing
- Prepares and files all necessary government required forms
Your financial advisor is your consultant who is knowledgeable, sophisticated and astute to the many complex aspects of retirement plans and retirement investing. The advisor ensures that the plan is highly effective for the client and its participants.
- Auditing and benchmarking providers, including TPA and Recordkeeper
- Investment research, guidance and monitoring
- Plan sponsor and participant education
- Fiduciary guidance and support
The custodian is the financial institution that securely holds the plan assets.
- Platform with menu of investment options
- Value of participant accounts tracked daily
- Participants receive quarterly statements
- One pooled trustee-directed account or separate participant-directed accounts
- Participants receive detailed statements from TPA annually