Under ERISA, the plan administrator is a fiduciary responsible for running the plan. Unless someone else is named, that's usually the employer. We can take on that role for you.
Delegating plan administration reduces your workload and shifts responsibility for the duties we accept. It doesn't eliminate your role: you still choose and monitor us, and you remain responsible for duties that can't be delegated.
| Duty | Typically handled by APA as 3(16) | Stays with the plan sponsor |
|---|---|---|
| Form 5500 | Prepare, sign and file as plan administrator | Provide accurate information and any required audit |
| Participant notices | Prepare and deliver required notices and disclosures | Provide current employee contact information |
| Distributions and loans | Review and approve requests under plan terms | Confirm employment status and termination dates |
| Contributions | Monitor deposit timing and flag late deposits | Remit employee deferrals on time from payroll |
| Plan data | Review census data for obvious errors | Supply complete and accurate payroll and census data |
| Plan design | Explain options and their consequences | Make plan design decisions (settlor functions) |
| Investments | Not included | Select and monitor investments, or delegate to a 3(21) or 3(38) fiduciary |
| Service providers | Not included | Prudently select and monitor all providers, including APA |
The exact duties we accept are defined in our written service agreement. Scope varies by plan.
We take on specific, defined duties, often Form 5500 signing and participant notice delivery, while you keep the rest of plan administration.
A good fit for sponsors with capable HR staff who want help with the highest-risk tasks.
We serve as the named plan administrator for nearly all operational duties, including distribution and loan approvals.
A good fit for smaller employers without dedicated benefits staff, and for multiple employer plans.
Many sponsors pair a 3(16) administrator with a 3(21) or 3(38) investment fiduciary, so both plan operations and plan investments have professional oversight.
We work with the financial advisor you already have. Advisors can also partner with us to offer their plan sponsor clients 3(16) administration alongside their own investment services.
Advisors: talk with us about partneringWe'll review your plan and recommend the right scope.
