This is one of the very few times, I am asking for two cents on a specific situation instead of offering my two cents.
As I have discussed before, I believe that ERISA §3(16) administrator/fiduciary services can be one of the next big things out there. But it’s not the solution for all plan sponsors and it’s not a solution for some third party administrators (TPAs) to offer.
So my question is for TPAs. If for some reason you have no interest in offering 3(16) services (and there are a few reasons), would you offer the services of a third party who only offered 3(16) services? Just asking for a colleague of mine who is interested in offering a 3(16) service and does absolutely no TPA work.
Please let me know through e-mails, blog posts, or posts in LinkedIn.