As Internal Revenue Service (IRS) regulations for retirement plan compliance have become more embedded in the educational community, more school districts than ever before are utilizing third-party administrators to handle their 403(b) and 457(b) programs. We can help you get the expertise you want and deserve from a Third Party Administrator (TPA).
Why Choose a TPA?
Third-party administrators specialize in providing full administrative and consulting services for 403(b) and 457(b) plans, while ensuring compliance with IRS regulations. A TPA can typically help you with:
- Complete administration of your Plan Document and agreements
- Support for multiple investment platforms
- Information sharing with all investment providers you select for your plan
- Support for your current remittance process to investment providers
In addition, TPAs may monitor the following transactions to ensure compliance with IRS regulations and as permitted by your Plan Document:
- Employee contributions
- Plan distributions/withdrawals
- Qualified domestic relations orders (QDROs)
How Horace Mann Can Help
Horace Mann utilizes a preferred TPA for 403(b) and 457(b) plans in school districts we serve. Through our preferred arrangement, school districts we refer for service receive a preferred plan set-up fee schedule. In addition, you have several options for handling monthly participant fees, along with a full range of TPA services.
If you prefer another TPA, we can still help you find one that best suits your needs. We’ve established working relationships with many other TPA firms and can help facilitate the selection process.
We’re Here for You
If you have any questions about 403(b) and 457(b) TPA services, email us at firstname.lastname@example.org or call us toll-free at 866-999-1945.