This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

The Pros And Cons Of TPAs Being A 3(16) Fiduciary Administrator

Stocks in this article: PFG

The question on the minds of many third party administrators (TPAs) these days is whether to take on full legal responsibility for administrating employer sponsored retirement plans, in other words, providing ERISA 3(16) plan administrator fiduciary services.

To help TPAs sort out the pros and cons, the Principal Financial Group ® is hosting a free webcast, Legal Analysis and Considerations for 3(16) Administrators” on Tuesday, April 29. 11 a.m. CDT. Nationally known ERISA attorney, Fred Reish, will discuss nuances of the law, provide examples of plan administrator duties, and delve into the benefits and pitfalls of becoming a fiduciary plan administrator.

“We know from our TPA Council and annual TPA Sales Academy, that many are weighing whether to take on the significant responsibility as a fiduciary for administrating their clients’ retirement plans,” said Tom Smith, vice president of retirement and investor services at The Principal. “As part of our ongoing commitment to TPAs, we are making this webcast available at no charge to help them do a risk-benefit analysis of taking on this responsibility.”

The webcast will also be of help to TPAs who are currently offering ERISA 3(16) service. Reish, of Drinker Biddle & Reath LLP, will discuss:

  • How to interpret the law
  • Key examples of plan administrator duties
  • Potential fiduciary issues
  • Benefits and downfalls of becoming a 3(16) fiduciary plan administrator

TPAs can register online.

The webcast is the latest offering from The Principal TPA EdgeSM program of services and tools designed specifically to help TPAs develop and manage their businesses. The program that includes:

  • 3(16) administrative services support
  • State-of-the-art technology and services that help simplify processes and allow TPAs to operate efficiently so they can focus on growing their business
  • TPA relationship managers and directors of business development who provide training and help TPA firms develop their businesses
  • Dedicated administration team with an average of more than 11 years of experience who are committed specifically to TPAs 1
  • Total retirement solutions available for TPA-administered plans for both profit and non-profit organizations including defined benefit, defined contribution – such as 401(k) and 403(b), nonqualified and employee stock ownership plans (ESOP)
  • A robust investment platform offering multiple investment managers with the security of a comprehensive fiduciary support program
  • Strong local presence in more than 44 cities across the United States with local personnel and services dedicated to TPAs, financial professionals and plan sponsors 2

About the Principal Financial GroupThe Principal Financial Group ® (The Principal ®) 3 is a global investment management leader offering retirement services, insurance solutions and asset management. The Principal offers businesses, individuals and institutional clients a wide range of financial products and services, including retirement, asset management and insurance through its diverse family of financial services companies. Founded in 1879 and a member of the FORTUNE 500 ®, the Principal Financial Group has $483.2 billion in assets under management 4 and serves some 19.4 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit

1 As of June 30, 2011. 2 Retirement Resources, Inc. 401(k) Vendor Profile, June 2010. 3 “The Principal Financial Group” and “The Principal” are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group. 4 As of Dec. 31, 2013.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs