Saying goodbye is never easy, but there are certain times when you need to do it. Personally, I’ve had to say goodbye to certain places of employment, friends, and organizations because it was the end of the line, and keeping the relationship continuing would have caused greater harm. There are many times where you do need to say goodbye. As a 401(k) plan sponsor, that goodbye is when you have to fire a plan provider. When it comes to firing a third-party administrator (TPA), there are many reasons why you have to fire a TPA and there are reasons when you have no choice. This article is about when you may have to fire your TPA.
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