Kasey Price Discusses the Imporance of Delegating to 3(16) Administrators

In a recent PLANSPONSOR​ article​​, Kasey Price discusses the importance of delegating tasks to a 3(16) administrator. “The 3(16) administrator is not wearing mult​iple hats and is a specialist,​” states Price.​​ “If you look at problems that arise from DOL and IRS investigations, most are operational failures—for example, not making timely deposits, or not using the correct definition of compensation for contribution calculations or nondiscrimination testing. The biggest value in hiring a 3(16) administrator is that it keeps plan transactions clean.”