RETIREMENT PLANS ARE COMPLEX. WE MAKE IT EASY.

At The Retirement Advantage (TRA), we believe in the best retirement for you and your employees — not only for the future, but for today’s bottom line. Retirement plans and employee benefits also help attract and retain great talent. Join forces with one of the industry’s leading experts in retirement plans.

Through flexible and innovative plan design, we provide you with the best customized retirement solutions. We also guide you through the technical industry jargon and regulations to be certain you understand the process and what’s required to both comply and prosper.

HOW RETIREMENT PLANS WORK: AN OVERVIEW

    • Preparation

      A business owner must select four main parties to help create and operate a retirement plan: financial advisor, recordkeeper/investment provider, third party administrator (TPA) and fiduciary. Many times, employers work with a financial advisor or investment firm that selects the other entities on the employer’s behalf. A plan must have at least one fiduciary — a person or entity — named in the written plan as having control over the plan’s operation. Fiduciaries have important legal responsibilities and are subject to standards of conduct because they act on behalf of retirement plan participants — owners and employees — and their beneficiaries. In many small cap and middle market companies, the business owner is often the fiduciary. Using a delegated 3(16) plan administrator, business owners can transfer the fiduciary responsibilities to another entity. Learn more about how TRA can relieve your day-to-day fiduciary responsibilities with our 3(16) Plan Administration Relief Services (PARS).

    • Retirement plan selection

      The financial advisor and/or (TPA) discusses your goals for a retirement plan — both your needs as a business owner and the benefits you intend to bring your employees. The financial advisor and TPA will design a plan to fit those needs. There are quite a few types of plans that offer various advantages and disadvantages based on the plan goals. For instance, plans for companies with fewer than 100 employees vary from those with thousands of employees to one with a sole proprietor. The Retirement Advantage is a third-party administrator that specializes in custom plan design for your unique needs — and will then also administer your plan to make sure you remain in compliance with federal regulations.

    • Retirement plan administration

      The third-party administrator creates a plan document that outlines how your retirement plan will work. The financial advisor invests the funds deposited into your plan, and the recordkeeper tracks the performance of those investments while the third-party administrator oversees the plan’s compliance with the U.S. Department of Labor and IRS regulations.

    • Retirement

      The plan document sets the earliest age at which a plan participant (employer, employee or beneficiary) may request a retirement distribution. The plan also determines when an employee is fully vested and may be entitled to receive all of the money contributed by the company and its earnings. There are other situations and life events where it becomes necessary for the plan participant to withdraw or transfer funds.

      Let us help guide and protect your company’s retirement plan with ease and clarity.

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Consider TRA's 3(16) Plan Administration Relief Services (PARS)

To alleviate the day-to-day administrative burdens of yours or your clients retirement plans.
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