Fiduciary & Compliance Services
Admin316 assumes retirement plan administrative fiduciary responsibility so business owners, HR teams, and advisors can reduce liability, stay compliant, and stop managing daily plan administration.
The Fiduciary Roles, and Who Holds Them in Your Plan Today
ERISA does not describe one fiduciary. It describes several distinct roles, each created by a different section of the statute, each carrying its own duties. Almost every plan we review has the same problem: the roles were never deliberately assigned, so they defaulted to the employer.
| Role | Source | What it owns | Who holds it in most plans |
|---|---|---|---|
| Named fiduciary | ERISA 402(a) | Top-level authority to control and manage the plan; appoints and monitors the rest | The company, by generic document language |
| Plan administrator | ERISA 3(16)(A) | Eligibility, notices, filings, distributions, claims, Form 5500 signature | The company, by statutory default |
| Investment manager | ERISA 3(38) | Discretion to select, monitor and replace plan investments | Nobody — usually only a 3(21) adviser, or none at all |
| Trustee | ERISA 403(a) | Holding and controlling plan assets | An owner or officer who signed years ago |
Fiduciary liability under ERISA 409 is personal, and it is judged on process. That is why who holds each role — in writing — matters more than any single plan feature.
What Admin316 Accepts in Writing
3(16) Plan Administrator
Full-scope administration: eligibility and entry, deposit-timing monitoring, participant notices with proof of delivery, distribution and loan approval, testing follow-through, and signing the Form 5500 as administrator.
402(a) Named Fiduciary
The designated fiduciary with authority to control and manage the plan, running appointments, provider monitoring, fee review and the claims procedure on a documented calendar.
3(38) Investment Manager
Discretionary investment management under a working investment policy statement, with the written fiduciary acknowledgment the statute requires.
403(a) Trustee
Independent trustee services: custody oversight, contribution receipt and reconciliation, disbursement authorization and prohibited-transaction screening.
Benchmarking
Independent fee and provider benchmarking built from your 408(b)(2) disclosures, Form 5500 data and size-appropriate peer sets — documented for the fiduciary file.
Audit support
DOL investigations, IRS examinations and independent Form 5500 audits: file preparation, correction strategy under EPCRS or VFCP, and examiner correspondence.
What Never Transfers — and We Will Tell You So
Selecting and monitoring your service providers. This duty stays with the sponsor permanently, including monitoring us.
Funding the plan and remitting deferrals from payroll. Employee money must leave the employer's hands as soon as it can reasonably be segregated.
Adopting and amending the plan document. Plan design is a settlor function that belongs to the employer.
Any provider claiming to remove all of your fiduciary liability is describing something ERISA does not permit. What can be moved is significant — and it should be moved deliberately, in writing.
How an Engagement Starts
1. Read the documents
Plan document, adoption agreement, SPD, trust agreement and service agreements — to establish who holds which role today.
2. Test operations
Deposit timing, eligibility, compensation definitions, notices, testing history, 5500 filings, fee disclosures and the bond.
3. Report plainly
What is working, what is exposed, what it would cost to correct, and which roles are worth moving.
4. Designate
Document amendment plus service agreement, with our fiduciary acknowledgment for each role we accept.
5. Correct
EPCRS or VFCP where required — deliberately, documented, and without drama.
6. Operate and document
Calendar-driven administration and a maintained fiduciary file that answers an examiner's questions on the first request.
Admin316 does not sell investments, insurance or recordkeeping. We hold fiduciary roles, and the only thing we are paid for is performing them — which is why we can monitor your other providers without a conflict.
A Self-Assessment You Can Run This Week
| Question | Where to look | What a bad answer means |
|---|---|---|
| Who is the named fiduciary? | Plan document, ERISA 402(a) designation | If it says "the Company," your officers hold it personally |
| Who signs the Form 5500? | Last filing, signature block | Your signer is the plan administrator, regardless of who helps |
| Who is the trustee? | Trust agreement, custodial titling | Often a former officer who left years ago |
| Do we have a 3(38), a 3(21), or neither? | Advisory agreement, fiduciary acknowledgment language | No acknowledgment means the investment decisions are still yours |
| How many days from withholding to deposit? | Payroll registers vs. trust deposits | Any pattern beyond prompt segregation is a prohibited transaction |
| Can we prove notices were delivered? | Notice file, delivery evidence | "The recordkeeper posts them" is not proof for every notice |
| When were fees last benchmarked? | Fiduciary file, 408(b)(2) disclosures | Never, or years ago, is the fact pattern in fee litigation |
| Is the fidelity bond at least 10% of assets? | Bond policy, Form 5500 question | Bonds bought at plan inception are usually now too small |
| Where are the minutes? | Governance file | No minutes means no evidence of a prudent process |
What Each Role Does and Does Not Move
| If you engage | What moves to Admin316 | What stays with you |
|---|---|---|
| 3(16) Plan Administrator | Eligibility, notices, approvals, testing follow-through, Form 5500 preparation and signature, claims procedure | Timely deferral remittance from payroll; accurate census data; document adoption |
| 402(a) Named Fiduciary | Top-level authority, appointments, provider monitoring, fee reasonableness determinations | Prudent selection and monitoring of Admin316; plan design decisions |
| 3(38) Investment Manager | Discretionary selection, monitoring and replacement of investments; IPS and QDIA decisions | Prudent selection and monitoring of the manager |
| 403(a) Trustee | Custody oversight, contribution receipt and reconciliation, disbursement authorization | Funding the plan and remitting withheld deferrals |
How the Roles Reinforce Each Other
Administration feeds the audit file
When the same party owns notices, approvals and filings, audit evidence is a byproduct instead of a fire drill.
Trustee reconciliation catches deposits
Payroll-to-trust reconciliation surfaces the DOL's most common finding in the first month it happens.
Named fiduciary monitors the rest
Appointments and provider reviews stop being an annual scramble and become a documented calendar.
Investment discretion removes decisions
Your team stops making and defending fund calls it was never equipped to make.
Benchmarking closes the loop
Independent fee evidence supports the reasonableness determinations the file requires.
One file, one story
An examiner reading a coherent, dated governance file asks fewer follow-up questions.
Who We Work Best With
- Employers with roughly 20 to 500 employees and no in-house ERISA specialist.
- Plans where HR or finance inherited the plan and is administering it between other full-time duties.
- Sponsors with known history — late deposits, missed notices, an uncorrected test, a late filing — who want it quantified and corrected properly.
- Advisors and CPAs who want an independent fiduciary partner that will not compete for the investment or accounting relationship.
Where We Are Not the Answer
- You want investment products, insurance or recordkeeping — we do not sell any of them.
- You want a provider to say all fiduciary liability is gone. ERISA does not allow that, and we will not say it.
- You need legal representation in litigation — that is counsel's role, and we support it.
Frequently Asked Questions
Which fiduciary roles can Admin316 actually accept?
ERISA 3(16) plan administrator, ERISA 402(a) named fiduciary, ERISA 3(38) investment manager and ERISA 403(a) trustee, each accepted in writing through plan document designation and a service agreement with fiduciary acknowledgment.
Do we have to move our recordkeeper or advisor to work with Admin316?
No. We are independent of investment, insurance and recordkeeping products and routinely serve alongside the providers a sponsor already uses.
Can we start with just one role?
Yes. Many sponsors begin with full-scope 3(16) administration, then add 402(a), 3(38) or trustee services as the governance structure is rebuilt.
What stays our responsibility no matter what we outsource?
Prudently selecting and monitoring your service providers, funding the plan and remitting employee deferrals timely, and adopting or amending the plan document.
How do we find out where we stand before committing to anything?
Start with a plan review. We read your documents and test your operations, then tell you plainly where the exposure sits and what correcting it would involve.
What size plan do you typically work with?
Most engagements are employers with roughly 20 to 500 employees, though we serve smaller and larger plans. The common factor is a sponsor carrying fiduciary duties without in-house ERISA expertise.
Do you replace our TPA or recordkeeper?
Not necessarily. We take fiduciary roles and coordinate with the providers you have. Where a provider's pricing or service is the actual problem, benchmarking will show it and the decision remains yours.
How do we know a provider's fiduciary claim is real?
Read the service agreement for an explicit written acknowledgment of fiduciary status under a named ERISA section, check whether the plan document designates that provider, and check who signs the Form 5500.
What is the fastest way to find out where we stand?
A plan review. We read the documents, test operations against them, and give you a plain-English report of where the exposure sits and what correcting it would involve.
Educational information only. Fiduciary status, plan operations and correction options depend on your plan document, service agreements and specific facts. Nothing here is legal, tax, investment or actuarial advice, and reading it does not create a fiduciary or client relationship.
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TPA, Administrator & 3(16)
A plan can have all three at once. We explain who is actually responsible for what — and how Admin316 can serve as your Professional Plan Administrator.
002
3(16) Plan Administration
We assume full day-to-day administrative fiduciary responsibility for your retirement plan.
003
402(a) Named Fiduciary
We serve as the legally designated named fiduciary under your plan document.
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Directed Trustee Services
We assume trustee responsibility and establish a clear, defensible plan governance structure.
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3(38) Investment Fiduciary
We hold discretionary authority over your plan’s investment menu, fully independent.
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401(k) Plan Benchmarking
We benchmark your plan’s fees, investments, and design against industry standards, free.
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401(k) Audit Support
We prepare, guide, and support plan sponsors through every stage of a DOL or IRS audit
We replace the employer as the plan administrator and fiduciary support partner.
Preserve the relationships you value while transferring day-to-day fiduciary responsibility to experienced professionals who have been doing this exclusively since 1997.
We Reduce Your Liability
By assuming fiduciary responsibility under ERISA Section 3(16) and 402(a), we takes on the legal accountability that would otherwise rest on your shoulders as the plan sponsor.
We Don't Disrupt What's Works
We work with your existing advisor, recordkeeper, payroll company, and CPA, enhancing compliance without replacing the relationships you trust.
We Are Proactive, Not Reactive
We monitor regulatory changes, manage filings, and review compliance on an ongoing basis, keeping your plan ahead of IRS and DOL requirements before problems arise.
We Are Fully Independent
We sell no investments, earn no commissions, and profit from no plan decisions. Our only obligation is to your plan and its participants.
- Worked With 100+ Clients
- Industry Expert
- Trusted Advisors
Get Your Free Fiduciary GuideA plain-English guide to what ERISA actually puts on the plan sponsor — including your plan's fiduciary and administrative roles — and which of those duties can be transferred to an independent fiduciary. No cost, no call required.
Get the guide →We Work Alongside Leading Recordkeepers & Plan Providers
3(16) Plan Administrator
Plan Administrator
We take over day-to-day plan administration, notices, filings, corrections, and compliance oversight — so your team is no longer personally responsible for plan operations.
ERISA Section 402(a)
Named Fiduciary
We serve as the named fiduciary responsible for plan administration under the plan document, assuming legal accountability so you don’t have to carry it alone.
403(a) Trustee
Directed Trustee Support
We collaborate with your team, advisors, and recordkeepers to align everyone around the plan’s governance framework.
975+ Plans Administered
Reducing Fiduciary Liability for Employers Across the United States
Admin316 Client Result
Plan Sponsor · Admin316 Client
