Rick Irace Discusses the “Quality Deficit” Among Small Retirement Plans

In a recent article published by Wealth Management, Rick Irace, chief operating officer of Ascensus retirement,  cites several points as evidence of a “quality deficit” for small  retirement plans versus their large market counterparts. As for closing this gap, Irace suggests that small business owners consider consulting with a third-party administrator (TPA). “I do think that for the sponsor that’s really concerned about administrative burdens and other things, the TPA can…step in and consult on specialized plan design. They can talk about technical details in a way that’s much easier understood for the sponsor and their employees,” adds Irace.