NIPA News Video: Roles of 401k Record Keeper, Advisor and TPA explained. Attorney Ilene Ferenczy, managing partner of Ferenczy Benefits Law Center, sits down with 401kTV to explain the different roles and responsibilities of 401k and 403b record keepers, advisors and TPAs.
Plan sponsors are often confused about these roles especially when they come from a bundled service solution where the record keeper performs the duties of a TPA in-house. Not understanding the various roles of these providers can result in poor performing plans and problems that attorneys like Ilene Ferenczy have to fix – the so-called “broken plan.”
So should all plans use a TPA? Find out more by watching this video.