Third-Party Administration Firms Need to be Monitored
Third-Party Administration firms are not all equal. There can be significant differences in the results generated by different TPA firms. Some times the most important contribution a good retirement plan advisor can bring to a plan sponsor is in advising a plan sponsor when to remove a poor-performing service provider.
At the conclusion of The Plan Sponsor University (TPSU) Fiduciary Education Program held at the location of the University of Memphis, FedEx Institute of Technology, Mr. Fred Barstein, Founder and CEO of TPSU interviewed Mr. Walter Grant, Adjunct Lecturer of TPSU. One of the topics discussed by Fred and Walter was the best way for Plan Sponsors to work with a Third Party Administration firm – a TPA. Mr. Grant addresses the process whereby a better outcome can be realized for the Plan sponsor by using a best-fit TPA.
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