3500 Blue Lake Dr Ste 360 Birmingham, AL 35243
(800) 423-4992

Third Party Administrator (TPA) Services


Our TPA Services

A Third Party Administrator (TPA) is an organization, such as SMA Services, Inc., that manages many of the day-to-day aspects of your employee retirement plan.

Common administrative tasks including plan document maintenance, form 5500 preparation, creating match and profit sharing calculations, performing non-discrimination testing and other tasks necessary to keep a 401(k) plan in compliance with the Employee Retirement Income Security Act of 1974 (ERISA).

Our primary business is retirement plan administration and we are committed to providing you with the resources you need to effectively select, manage, and monitor your retirement plan.

What sets us apart?

  • Extensive industry experience
  • Quality products
  • Competitive pricing
  • Top-tier support

Independent TPA

As an independent TPA provider, we are able to work with any recordkeeper. This gives us a lot of flexibility and allows us to act in your best interests.
Going over finances.

 Retirement Plan Services

  • Plan Design & Consulting
  • Flexible Plan Design
  • Prototype Plan Documents
  • Summary Plan Descriptions
  • Conversion/Implementation Assistance
  • Core Compliance Services
  • Signature-Ready Form 5500
  • Integrated Payroll Services

 Retirement Plan Types

  • 401(k)
  • 403(b)
  • Safe Harbor
  • Solo(k)
  • Cross-Tested
  • Age Weighted

 Retirement Plan Services

  • Plan Design & Consulting
  • Flexible Plan Design
  • Prototype Plan Documents
  • Summary Plan Descriptions
  • Conversion/Implementation Assistance
  • Core Compliance Services
  • Signature-Ready Form 5500
  • Integrated Payroll Services
Going over finances.

 Retirement Plan Types

  • 401(k)
  • 403(b)
  • Safe Harbor
  • Solo(k)
  • Cross-Tested
  • Age Weighted
People Working

Defined Contribution Plans can be very complex. Click below to get a quick overview of responsibilities and who typically handles each.

Defined Contribution Plans
Who does what?

Defined Contribution Plans can be very complex. Click below to get a quick overview of responsibilities and who typically handles each.

  • TPA: The Third Party Administrator is hired by the plan sponsor to run many of the day-to-day aspects of the retirement plan.
  • Advisor: Assists the employer in choosing a recordkeeper. Provides investment education to plan sponsors and participants.
  • Plan Sponsor: Typically the employer.
  • Recordkeeper: Company that tracks plan investments, who is in the plan and the investments they own, and what goes in and out of the plan.
People Working

SERVICES

TPA

ADVISOR

PLAN SPONSOR

RECORDKEEPER


Design Plan


Prepare plan documents, plan amendments & IRS plan qualification filings


Complete summary plan description


Compile & electronically provide participant census data to SMA Services, Inc.


Provide SMA Services Inc., with plan provision information


Review & select participant services


Coordinate with payroll service


Identify plan-appropriate investment options


SERVICES

TPA

ADVISOR

PLAN SPONSOR

RECORDKEEPER


Personalized enrollment support


Personalized ongoing education


SERVICES

TPA

ADVISOR

PLAN SPONSOR

RECORDKEEPER


Electronically submit timely & accurate plan contributions (by contribution types)


Provide daily valuation of accounts


Grant access to retirement accounts via internet or phone & access to call support


Offer asset allocation resources


Create & distribute participant statements


Develop plan sponsor statements


SERVICES

TPA

ADVISOR

PLAN SPONSOR

RECORDKEEPER


Authorize & setup TPA access to participant data


Provide salary information to SMA Services, Inc. (TPA)


Provide participant data to SMA Services, Inc. (TPA) for plan compliance testing


Get plan data from recordkeepers website


Review employee census & monitor plan eligibility & entry dates


Conduct top-heavy testing & contribution calculation


Calculate 415 limits


Perform ADP/ACP nondiscrimination tests


Conduct miscellaneous compliance tests for specific plan designs


Prepare allocations of plan sponsor contributions and forfeitures


Provide information for Schedule A & applicable schedules & an Audit Package if required


Complete Form 5500 series annual reports & schedules & summary annual report


E-file 5500 series annual reports & schedules


Provide support to help plan meet legislative compliance requirements


SERVICES

TPA

ADVISOR

PLAN SPONSOR

RECORDKEEPER


Conduct benefit event process & education (such as employee termination)


Calculate participant vesting percentages


Help with spousal consent requirements


Initiate vested benefit payouts


Recordkeeping plan participation loans (if allowed by plan)


Monitor & calculate Required Minimum Distributions


Coordinate income tax withholding


Prepare Form 1099-R


Issue checks