With fee disclosure regulations to be effective on April 1, 2012, many retirement plan sponsors like you may be on the lookout for hiring a new third party administrator (TPA) after they find out what the fees they are actually paying to the old one are unreasonable. Even if you are not looking for a new TPA, as a plan fiduciary, you need to shop around your plan to other TPAs in order to make sure you are exercising your fiduciary responsibility prudently by confirming that the fees you pay to the TPA are reasonable for the services provided.