403(b) Information Center |
Third Party Administrators (TPAs)
One way to administer your plan is to designate a Third Party Administrator (TPA) to handle the compliance monitoring of plan transactions. If you choose this option, the name of your TPA should be specified in your written plan document.
A TPA can provide, among other things, services like: contribution tracking, complete transaction monitoring with verification, common remitter, a plan document, meaningful notice for employees, and IRS audit support. For 501(c)(3) non-profit employers, delegating 403(b) compliance responsibilities to a TPA can help maintain the limited involvement required under the ERISA exemption safe harbor regulations.
Consider an Independent TPA
An independent TPA can avoid possible conflicts of interest inherent when the TPA responsible for transaction and compliance monitoring is affiliated with a provider. Lack of such affiliation can also provide a greater level of objectivity and data privacy.
Finding the right TPA can be time-consuming. To help the employers we serve, AXA Equitable conducted a search of several independent, full service TPAs that would be suitable for an employer to evaluate. If you are interested in securing the names of independent, full service TPAs, please contact your financial professional or email us at employer.support@axa-equitable.com.
In addition, we have created a check list to help you in your evaluation and selection process.
For more information on how to select a TPA, read Strategies for Selecting a Third Party Administrator.
Please be advised that this web content is not intended as legal or tax advice. Accordingly, any tax information provided in this web content is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of avoiding penalties that may be imposed on the taxpayer. The tax information was written to support the promotion or marketing of the transactions(s) or matter(s) addressed, and you should seek advice based on your particular circumstances from an independent tax advisor.
AXA Equitable Life Insurance Company, NY, NY and AXA Advisors, LLC, member SIPC, are affiliated companies. Securities are offered through AXA Advisors, LLC. AXA Equitable has sole responsibility for its annuity and life insurance obligations.
AXA Equitable and AXA Advisors do not provide legal or tax advice. Please consult your legal or tax advisor as to your specific situation.
GE-44470 (rev. 3/09)
