Retirement Plan Administration Partner
Most plan sponsors do not need another vendor with a portal. They need a retirement plan administration partner who will put a name on the Form 5500, run the day-to-day plan operations, and accept the fiduciary responsibility in writing.
What a real administration partner takes off your desk
Day-to-day plan operations
Eligibility tracking, entry dates, deferral changes, loans, hardships, distributions and QDRO processing. These are the tasks that quietly create liability when payroll and the plan document drift apart.
Government filings, signed
Form 5500 and related schedules prepared and signed by Admin316 as 3(16) plan administrator, with the SAR issued and the audit package assembled when your plan crosses the threshold.
Participant notices on time
Safe harbor, QDIA, automatic enrollment, fee disclosure and blackout notices, tracked and delivered against the statutory calendar instead of your memory.
Compliance testing and corrections
ADP/ACP, 402(g), 415, coverage and top-heavy testing reviewed against the plan document, with late deferral deposits corrected through VFCP rather than left to be found on audit.
Vendor vs. partner: the difference is who signs
A recordkeeper holds the money
Recordkeepers and payroll providers do exactly what their service agreement says, and their agreements almost always keep them out of fiduciary status. Whatever falls outside the contract falls back on you.
A partner accepts the role in writing
Admin316 is appointed in the plan document as 3(16) plan administrator and, where you choose, as 402(a) named fiduciary. That appointment is what actually transfers responsibility. Advice does not transfer responsibility; an appointment does.
What always stays with you
Selecting and monitoring your service providers, funding the plan, and the decision to adopt or amend the plan remain settlor and sponsor duties. We are direct about that line so no one is surprised later.
Frequently asked questions
What does a retirement plan administration partner do?
It performs the ERISA plan administrator functions for your 401(k): eligibility, contributions, distributions, notices, testing and the Form 5500. A true partner is named in the plan document and signs the filing rather than preparing it for you to sign.
Is this the same as my recordkeeper or TPA?
No. A recordkeeper administers accounts and a traditional TPA prepares testing and filings for your signature. A 3(16) administration partner performs the plan administrator role itself and accepts fiduciary responsibility for that work.
How much does it cost?
Fees depend on participant count and plan complexity. In most reviews we run, moving the work to a bundled 3(16) arrangement lands between a 32% and 65% reduction against the current lineup of provider fees, because duplicated services drop out.
How long does the transition take?
Typically 30 to 60 days: document and appointment review, data and payroll mapping, then a cutover of notices and filings. Your recordkeeper and advisor do not have to change.
