How can a TPA help your company?
Retirement benefit plans can be an extremely technical subject. The laws and employer requirements are an ever-changing process. Hiring a TPA can usually be much more cost effective then trying to do the same work in-house, especially for smaller to mid-size companies. Selecting a TPA to handle these tasks leaves your company with one less job to worry about. A good TPA will help you analyze and determine what's best for your company's needs.
Selecting the right TPA is paramount to the success of the plan. In most cases, the bundled environment is not the best approach, since you cannot choose with whom you work, and whether they have sufficient qualifications to make ongoing plan recommendations.