Hiring A 401(k) Plan Provider? Avoid These Mistakes | Ary Rosenbaum

July 19, 2021

Many years ago when I was a young ERISA attorney working for a third-party administration (TPA) firm, I left to take a job as an attorney for a union-side law firm. That was a mistake because I joined the union-side law firm just to get away from the job at the TPA. Every decision you make for just the right reasons and as a 401(k) plan sponsor, changing TPAs must be for the right reasons, and often, plan sponsors make a change for the wrong reasons. This article is all about the pitfalls in selecting a new plan provider.