As an expert third party administrator, QRPS performs many important administrative and compliance tasks for your retirement plan. Even with a bundled arrangement with an investment platform provider, you (Plan Sponsor) are still responsible for many fiduciary and operational tasks. Many business owners find these requirements complex and burdensome.
These tasks also add the risk of personal liability to business owners and/or the executive management team overseeing the plan. Now you have the opportunity to elect QRPS Fiduciary Partner to become an ERISA 3(16) Administrative Fiduciary for your qualified retirement plan, to relieve you of these various fiduciary and operational tasks.
With QRPS Fiduciary Partner, you no longer need to have staff dedicated to day-to-day and periodic ERISA DOL / IRS requirements of operating your qualified retirement plan.
QRPS will field, review and approve all requests for plan withdrawals and other annual administrative responsibilities, such as:
QRPS Fiduciary Partner is an additional level of service beyond our traditional administrative service model. Adoption of the QRPS ERISA 3(16) Fiduciary Service Agreement and the QRPS Administrative Agreement is required. QRPS will then complete the investment platform or custodian forms to add QRPS as a Plan Fiduciary / Authorized Signer for the Qualified Retirement Plan.