Did You Know there many different types of 401k plan arrangements?
Your plan arrangement can be bundled or unbundled with one or many service providers. We will look at the most common arrangements over the next few weeks:
- Bundled – one providers does everything
- Unbundled – recordkeeper and TPA are different
- Unbundled – recordkeeper and TPA are the same
The fiduciaries’ duty is to select the providers in a prudent manner. Not the best providers. Not the least expensive providers. Remember that almost always the decision as to which provider you choose leads to what type of arrangement the plan will have. Contact us to review and improve your plan arrangement!