3 Things to Look for in a Strong TPA for Your Company Retirement Plan

Since COVID, it seems like there have been a lot of changes and updates to how retirement plans operate and stay in compliance. If you’re a retirement plan sponsor or administrator, you know that your third-party administrator (TPA) plays a critical role in keeping your plan running smoothly.

Unfortunately, not all TPAs operate at the same level, and the difference can have real consequences for your compliance, workload, and participants’ experience. So, what should you expect from a strong TPA relationship?

1. Proactive Support (Not Just Reactive Service)

At a minimum, your TPA should do more than process paperwork and run annual testing. A great TPA takes the time to understand your company’s goals, your plan design, and your employee population.

They help you anticipate issues before they become problems by:

• Flagging potential compliance risks early
• Keeping you informed about regulatory changes
• Recommending plan design improvements that align with your goals

A proactive TPA acts as a partner, not just a processor.

2. Clear and Consistent Communication

Retirement plans come with complex rules, deadlines, and responsibilities—and you shouldn’t feel like you’re navigating them alone.

Your TPA should:

• Explain concepts in plain, easy-to-understand language
• Respond in a timely manner
• Clearly outline what’s needed from you and when

Whether it’s a quick question or year-end coordination, communication should feel straightforward and collaborative — not confusing or reactive.

3. Reduced Administrative Burden

Your TPA should make your job easier, not more complicated. The right partner helps streamline processes and keeps you organized.

This can look like:

• Providing clear timelines and checklists
• Offering tools or guidance to stay on track
• Handling complexities behind the scenes so you can focus on your business

Get Ahead of Cycle 4

The IRS’ mandated Cycle 4 restatement window for defined contribution plans, including 401(k) and profit-sharing plans, is expected to open in fall 2026 and run through fall 2028. During this period, nearly all defined contribution plans will need to be restated to reflect legislative and regulatory changes adopted between 2019 and 2022.

We expect to begin restating plans in early October 2026. While that may seem far off, plan sponsors should consider starting the conversation now. This restatement is not optional, and missing the eventual deadline could put a plan’s tax-qualified status at risk.

The restatement process also provides a valuable opportunity to revisit your plan design. Is your current structure still meeting the needs of your business and your employees? Before updated documents are signed, this is the right time to evaluate whether any changes should be considered.

Our Third-Party Administration team brings more than 125 years of combined experience and currently administers 350 plans with more than $400 million in assets. We can help you understand what Cycle 4 means for your plan, keep you informed as the restatement window approaches, and make sure important details are not overlooked.

Contact us today to begin planning for your Cycle 4 restatement.