Types of 401(k) providers
A plan sponsor hires three different types of providers to manage their 401(k) plan. Each provider plays a unique role within your small business's retirement plan.
A plan advisor helps the plan sponsor and participants with plan and investment management. Hire the plan advisor first to help coordinate selection of the TPA and recordkeeper.
A record keeper keeps track of the contribution types in the retirement plan. The recordkeeper also maintains the plan website, and distributes plan statements.
Third Party Administrator
A TPA takes care of certain administrative aspects of the plan. For example, the TPA maintains the plan document, performs annual compliance testing, and prepares the Form 5500.
Must-See 2-Minute Video
How to Shop for a Plan Advisor
Watch this short video from a Fisher Retirement Plan Specialist to learn how to shop for the right advisor for your business's retirement plan.
Free 401(k) Provider Evaluation Checklist
8 Questions to Ask When Evaluating a Plan Advisor
Find out the 8 most critical questions to ask when evaluating a new plan advisor for your small business.
Plan Advisor Evaluation Template
Save time by downloading our complimentary provider evaluation template.
Plan Advisor Comparison Chart
Compare the differences between a one star, two star, three star and four star plan advisor.
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