Blog

Thank Goodness for a Good TPA

June 8, 2018

Thank Goodness for a Good TPA

Have you ever used these words? If you have, you know the value that a good Third Party Administrator (TPA) brings to your practice.

Read More >

What Role Does the Third Party Administrator (TPA) Have in Recordkeeping?

May 2, 2018

What Role Does the Third Party Administrator (TPA) Have in Recordkeeping?

Our last two blog articles have gone over the role of the record keeper in your 401(k) plan. As you may recall, there are many people who work behind the scenes to help manage a 401(k) plan. There’s the Investment Advisor, Third Party Administrator (Benefit Equity, Inc.), mutual fund companies, and a recordkeeper, (insurance company or investment company). 

So where does the Third Party Administrator (TPA) fit into the equation? Benefit Equity, Inc., (BEI) is a Third Party Administrator and we’ll discuss our role in recordkeeping and your 401(k) plan.

Read More >

Recordkeeping 101: FAQ’s About Recordkeepers

April 2, 2018

Recordkeeping 101: FAQ’s About Recordkeepers

As discussed in our last blog article, there are many people who work behind the scenes to help manage a 401(k) plan. There’s the Investment Advisor, Third Party Administrator (Benefit Equity, Inc.), mutual fund companies, and a recordkeeper, (insurance company or investment company). 

The 401(k) recordkeeper is the investment custodian who buys and sells the mutual funds as directed by plan participant’s. In this role they account for the buying and selling of the funds, the contributions to the plan and the distributions to terminated employees. They are the bookkeeper for 401(k) plan. They also provide enrollment materials, participant disclosures, online access of account information and retirement planning tutorials. 

What else should you know about recordkeepers? Here are a few frequently asked questions we get about the role of the recordkeeper.

Read More >

What Exactly Does a Recordkeeper Do?

March 1, 2018

What Exactly Does a Recordkeeper Do?

In Robert Gorelick’s book, America’s Retirement Plan, Chapter 3 discusses parties to the Plan. There are a lot of different parties to the plan known as service providers. They work behind the scenes to help manage a 401(k) plan. There’s the Investment Advisor, Third Party Administrator (Benefit Equity, Inc.), mutual fund companies, and a recordkeeper, (insurance company or investment company). 

According to PlanSponsor Magazine’s 2016 Recordkeeping Survey, 401(k) recordkeepers hold $4.2 trillion of American’s retirement savings.  We also refer to them as the recordkeeping platform.

So what exactly does a 401(k) recordkeeper do? And just as important, what don’t they do?

Read More >

BEI and OCMA – A long-time, great partnership

February 15, 2018

BEI and OCMA – A long-time, great partnership

Every year the Orange County Medical Association celebrates the best physicians of the year with an evening of food, friends and fun! This year was no different. In January, OCMA chose PIRCH Design Center in Costa Mesa and invited some of the best restaurants in OC to showcase their culinary creativity.  Over 300 guests enjoyed the evening and OCMA even offered drawing for a day with a new Infiniti!

Read More >