How TPAs Can Compete With The Payroll Provider TPAs

Ary Rosenbaum
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When people in the retirement industry ask me about my National ERISA practice, one question is whether I do any third party administration (TPA) work? When asked, my line is always that I don’t “because I stick to what I know.” Unfortunately, payroll providers don’t follow that line, as they are some of the largest TPAs of retirement plans. If you’re a TPA, you’re often butting heads with these payroll providers and it’s frustrating because plan sponsors think there is some value in using a payroll provider as a TPA, but you know the truth. So this article is how TPAs can compete against payroll provider TPAs.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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