TRCO 3(16) Fiduciary Services

ERISA Section 3(16) states the definition of “Plan Administrator” as responsible for the daily operation of the plan. A Plan Administrator under ERISA 3(16) is identified in the Plan Document and if the Plan Document is not specific, the Plan Sponsor is considered to be the 3(16) fiduciary.

Services Provided

  • Interpret Plan Document
  • Review Fidelity Bond
  • Administer loan policy
  • Approve corrective refunds
  • Approve hardship withdrawals
  • Approve in-service withdrawals
  • Approve loans
  • Approve QDRO
  • Approve RMD’s
  • Approve separation of service distributions
  • Monitor loan defaults
  • Review and upload vesting to plan provider
  • Notify Plan Administrator of Irregularities
  • Sign and file Form 5500
  • Sign and file Form 8955-SSA
A Plan Sponsor has the ability to outsource these responsibilities to an independent third party, SAVING THEM TIME and REDUCING THEIR FIDUCIARY LIABILITY.

We Can Help You

A delegated 3(16) Plan Administrator is an outsourced HR function that saves you time by relieving many of the day-to-day burdens associated with sponsoring a plan.