The extra mile comes standard.
Through our team of dedicated retirement planning professionals, we offer a full suite of recordkeeping, administration, and actuarial services for employer-sponsored benefit programs. In the end, results are what matter most, so we work hard to ensure that our efforts build towards the goals of the people we serve. Our service team prides itself on how well we deliver the following services:
Open Architecture Daily Valuation Recordkeeping
We offer a true “open architecture” daily valuation recordkeeping platform, which enables the plan sponsor – with the guidance of its investment advisor – to create an investment arrangement tailored to the unique needs of the employer and its workforce. In creating the plan’s investment menu, the plan and its investment advisor have access to virtually the entire universe of mutual funds and ETFs, along with stable value funds, collective investment trusts, self-directed brokerage accounts, and managed accounts.
We do not take for granted that selecting an appropriate mix of investments is overwhelming for many – if not most – retirement plan participants. From the plan’s menu of investments, the plan’s investment advisor is therefore able to create and manage a series of model portfolios. Model portfolios are professionally-managed asset allocations that have proven to dramatically simplify investment selection and encourage plan participation. At no additional cost, choosing a model portfolio gives employees peace-of-mind knowing that their mix of investments is appropriate for their age and level of risk tolerance.
Powered by SunGard Relius® web software, our participant user site includes industry-leading investment education, retirement planning, and account management tools that empower employees to prepare for retirement with ease and confidence.
Third Party Administration
As third-party administrator (TPA), our experienced team of consultants and administrators will work closely with the employer in the design, implementation, and ongoing administration of its retirement plan.
The experience and expertise of our staff ensures that plans are administered in a consistent and timely manner and that the plan’s design remains appropriate to the employer’s needs.
The TPA services provided by TRPC include, but are not limited to, the following:
- Customized plan design and installation
- Preparation of plan documents and ongoing legislative/regulatory updates
- Preparation of required employee notifications and disclosures
- Calculation of employer contributions
- Testing to demonstrate satisfaction of IRS Nondiscrimination and Coverage requirements and annual contribution limitations
- Year-end Trust reconciliation and account activity reporting
- Preparation of Form 5500 Annual Return/Report
- Processing of participant distributions and participant loans
In addition to offering our own daily valuation recordkeeping platform, we maintain strategic alliances with many other recordkeeping platform providers. Whether plan assets are held on TRPC’s recordkeeping platform or with another investment provider, we are able to provide a full suite of plan design, installation, administration, and consulting services.
Defined Benefit and Cash Balance Plan Services
To view a list of frequently-asked questions (FAQs) about Defined Benefit Plans and Cash Balance Plans, please click here.
The Defined Benefit and Cash Balance Plans for which TRPC provides actuarial services range in size from sole proprietorships to large corporations. Some of the most common adopters of Defined Benefit Plans and Cash Balance Plans today are actually sole proprietors or owner-only corporations, as well as smaller professional employers (attorneys, physicians, dentists, CPAs, etc.). In addition to offering direct administration services to plan sponsors, TRPC offers actuarial services to other Third Party Administrators as TPA partners in Defined Benefit Plan and Cash Balance Plan administration.
To speak with an experienced pension consultant about our Defined Benefit and Cash Balance Plan services and how they can benefit your business or your client’s business, please contact our Defined Benefit Department Manager, Kyle Brown, at 615-515-4459 or [email protected].
READY.SET(k) Solution for New Plans
TRPC believes that smaller businesses deserve the ability to establish a 401(k) plan to serve themselves and their employees just as much as larger companies. However, the rules, regulations, and fees to set up and manage a plan often means small companies are forced to forego this important benefit. TRPC has solved this problem with our new READY.SET(k) safe harbor solution expressly designed for businesses starting up a new plan.
With READY.SET(k), we have simplified the setup, plan design, implementation and fee structure to provide just the features small business owners are looking for in their first 401(k) plan. But simple and low-cost doesn’t mean inferior. Quite the opposite. READY.SET(k) is supported by our expert team of consultants and is fully supported by the employer’s chosen financial advisor. And given the many custodian and investment platforms we work with, a READY.SET(k) plan can offer virtually any mix of high-quality, low-cost investments to suit the needs of each unique business.
3(16) Fiduciary Partner Program
3(16) Fiduciary Partner Program
Managing the day-to-day operation of a retirement plan can be complicated and time consuming.
With over 25 years of retirement plan administrative experience, TRPC has the expertise to act as a co-fiduciary and reduce your fiduciary responsibilities and potential liability. Our team of CPAs, administrators, and actuarial professionals take these burdens off your plate. We focus on the administration of your plan, so you can focus on your business.
TPA Engine is a division of TRPC that provides a full suite of outsourcing services to TPA firms throughout the country. TPA Engine helps drive TPA firm growth and profitability by acting as a complete “back office” for year-end compliance reporting, and freeing up consultants and administrators to provide personalized service to clients. Outsourcing services provided by TPA Engine include:
- Compliance Data Center (CDC) plan sponsor web portal for census data collection
- A TPA Dashboard that is used to manage year-end compliance tasks and document all communications with our outsourcing staff
- Trust Accounting
- Contribution Calculations
- Compliance Testing
- Form 5500 Preparation
- Distribution and Loan Processing
- Plan Documents
Depending on the needs of the TPA firm, these services may be requested as a fully-bundled solution for year-end compliance reporting, or as a customized outsourcing solution that is tailored to the TPA firm’s service requirements.
To learn more, please click here.
Individual Retirement Accounts (IRAs)
We offer IRA products that promote continued retirement savings for former employees that leave the employer’s plan.
TRPC offers three different IRA products that are intended to encourage tax-deferred retirement savings after a former employee leaves the employer’s plan. Effortless IRA™ is a TRPC IRA product offering investment options that are professionally-managed by an independent Registered Investment Advisor. Effortless IRA™ simplifies the IRA rollover process by allowing the former employee to complete the rollover request on TRPC’s website, rather than needing to complete paperwork with another IRA provider. By rolling their plan account into an Effortless IRA, a former employee is able to manage their IRA using the same user credentials and the same, familiar web interface that they used when managing their account in the employer’s plan.
TRPC Automatic Rollover IRA is an IRA product that allows employers to move former employee balances of under $5,000 to an IRA in the employee’s name. Selecting a TRPC Automatic Rollover IRA allows the employer to keep small balances of former employees out of the plan, while preserving the favorable tax treatment on the account by creating an IRA for the former employee.
AdvisorIRA is a product that enables investment advisors to manage their individual clients’ IRA accounts directly on TRPC’s daily valuation recordkeeping platform. While IRAs are maintained and record-kept on an individual account level, the investment advisor’s AdvisorIRA product is established and managed on a “master” account level to simulate the advisor experience of managing investments in a company-sponsored retirement plan. AdvisorIRA simplifies IRA administration and management by streamlining account setup, consolidating asset management to a “master” account level (similar to with a retirement plan), and automating the payment of asset management fees to the IRA advisor.
Group/Health Benefit Programs
BW Employee Benefits (BWEB), a TRPC affiliate, helps employers design, implement, fund, and manage a variety of health and group benefit programs. Learn More