While I know my discussions about payroll provider third-party administration firms (TPAs) have hit nerves (especially those that work for those firms). We can all debate whether there is a link between running payroll and running 401(k) plans or whether there is an inherent conflict of interest for a TPA that has its investment advisory practice. The main important thing is that whatever TPA a plan sponsor selects, it should choose a TPA that is competent in its services and charges a reasonable fee for the services they provide. It\u2019s that simple.<\/p>\n
So while I have been honest in my views about payroll provider TPAs, my only issue has been the way they operate in administering plans. So I don\u2019t care whether the TPA is in the payroll business or the meat packing business, the most important thing is competent administration at a fee that plan sponsors can understand, that\u2019s it.<\/p>\n
<\/span><\/p>","protected":false},"excerpt":{"rendered":" While I know my discussions about payroll provider third-party administration firms (TPAs) have hit nerves (especially those that work for those firms). We can all debate whether there is a link between running payroll and running 401(k) plans or whether … Continue reading