ERISA 3(16) - My Benefits

"First Party Administrator, LLC"

Your Named ERISA 3(16) Fiduciary

What Is An ERISA 3(16) Plan Administrator?

The fiduciary who is responsible for the day-to-day operations of your qualified retirement plan is known as a 3(16) Plan Administrator under ERISA.

For most companies, the Plan Sponsor typically assumes the role of Plan Administrator if no other fiduciary is hired to fulfill the position.

HOW DO I KNOW I NEED A 3(16)?

DOES PLAN TYPE MATTER?

Backed By My Benefits

As an industry leading Third Party Administrator we’ve created our independently owned company, First Party Administrator TM, LLC, to be the named ERISA 3(16) Plan Administrator directly relieving Plan Sponsors of administrative burdens.

We Bring It All Together For You

As an elected 3(16) Plan Administrator, First Party AdministratorTM, LLC directly relieves plan sponsors of their administrative burdens while acting as the plan’s named administrative fiduciary.

This provides Plan Sponsors with a fully encompassing fiduciary team proactively eliminating penalties and fines on plans that have operational or reporting errors.

Let Us Do & You Review

Shift retirement plan risk, responsibility and burden from your organization to ours. Think of us as the bridge to your benefits

Plan Design & Record Withholding

Assemble and maintain copies of signed Plan documents
Possess readily available Plan documents for clients

Plan Compliance & Testing

Ensuring IRS and DOL compliance
5500 preparation, review, signature and submission
Annual nondiscrimination testing

Participant Communication & Support

Prepare and produce all mandatory notices including 408(b)(2) and 404(a)(5) with optional mailing services
Respond to all participant-related questions

Loan & Distribution Review, Approval, & Processing

Review plan’s loan policy and process based on approval
Evaluate and approve distributions including Hardships, QDRO, and RMD

Enrollment Support

Acknowledge eligibility throughout the plan year
Assess and distribute supporting documents to eligible participants

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Your retirement plan questions answered, in plain English, by an expert. Use the form below to ask our retirement plan experts your question.