Third Party Administration (TPA)

Keeping Your Future Safe and Compliant

FutureBenefits of America serves as the Plan’s recordkeeper and Third-Party Administrator (TPA).  FutureBenefits of America’s role as TPA includes administering compliance testing and the preparation of IRS Form 5500 for the adopter.  Probably the most important role of the TPA is to help create and maintain the plan document.  The document gives direction of how the plan operates and what provisions are allowed such as contributions, distributions and other options.

It takes a lot of work to manage a retirement plan. There are multiple rules and regulations to follow and if you’re not sure what you’re doing, you could face penalties and fees. Trusting FutureBenefits of America can give you peace of mind that nothing is falling through the cracks. We can see around corners to help you navigate the ever-changing road of the IRS and Department of Labor (DOL) regarding compliance.

Along with providing these documents, we also test that every plan follows the current IRS and (DOL) rules and regulations – this involves testing assets and contributions, as well as Form 5500 annual returns. Many of these ongoing tasks are automated through our new product offering, Axis™.