Browse 56+ providers in this category.
Featured Providers
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401GO - Sandy, UT
Third-Party Administrator
<p>Retirement plan administration and recordkeeping are the core of 401GO, a fintech-focused provider founded in 2017. Headquartered in Sandy in the S... -
ADP Retirement Services - Roseland, NJ
Third-Party Administrator
<p>Retirement plan administration is the focus at ADP Retirement Services, a division of Automatic Data Processing, Inc. Founded in 1949, the firm wor... -
Alight Solutions - Chicago, IL
Third-Party Administrator
<p>Retirement plan administration and recordkeeping are a core part of Alight Solutions’ workplace services. The firm works with employers on retireme... -
American Trust Retirement - Dubuque, IA
Third-Party Administrator
<p>Retirement plan administration and recordkeeping are the core of American Trust Retirement, a division of AmericanTCS. Founded in 1973, the firm wo... -
Americas Best 401k - Scottsdale, AZ
Third-Party Administrator
<p>Built for small and mid-sized employers with roughly 5–500 employees, Americas Best 401k is a retirement plan administrator that focuses on lowerin... -
Ameritas Retirement Plans - Lincoln, NE
Third-Party Administrator
<p>Retirement plan administration and related financial services, with a focus on recordkeeping and compliance support. Ameritas Retirement Plans work... -
Ascensus, LLC - Dresher, PA
Third-Party Administrator
<p>Retirement plan administration and recordkeeping are core parts of what Ascensus, LLC does, with a mix of plan design and compliance support for em... -
Aspire Financial Services - Tampa, FL
Third-Party Administrator
<p>Retirement plan recordkeeping is Aspire Financial Services’ main line of work, with a focus on K–12 retirement programs such as 403(b), 457, and IR... -
Basic Capital - New York, NY
Third-Party Administrator
<p>Runs bundled 401(k) administration with in-house recordkeeping and 3(16) services, built for employers that want a single provider for core plan op... -
Betterment at Work - New York, NY
Third-Party Administrator
<p>Betterment at Work is a retirement plan administrator that runs workplace retirement programs with a tech-first recordkeeping platform. Founded in ... -
BPAS - Utica, NY
Third-Party Administrator
<p>Retirement plan administration and recordkeeping are the core of BPAS’s work for employer-sponsored plans. The firm handles day-to-day plan operati... -
Canada Life - Toronto, ON
Third-Party Administrator
<p>Retirement plan administration and recordkeeping are a core part of Canada Life’s group business, with participant advice available alongside group... -
Capital Group - Los Angeles, CA
Third-Party Administrator
<p>Capital Group is a retirement plan administrator that handles plan design, compliance, and recordkeeping for workplace retirement plans. Founded in... -
Charles Schwab & Co., Inc. - Westlake, TX
Third-Party Administrator
<p>Retirement plan administration and recordkeeping are a core part of Charles Schwab & Co., Inc.’s business within The Charles Schwab Corporation... -
Common Wealth - Toronto, ON
Third-Party Administrator
<p>A retirement plan administrator founded in 2015, Common Wealth runs a digital platform for workplace retirement plans. The firm works with employer... -
Corebridge Financial - Houston, TX
Third-Party Administrator
<p>Retirement plan administration is a core part of Corebridge Financial’s business, alongside life insurance and asset management. The firm provides ... -
Desjardins Financial Security Life Assurance Company - Lévis, QC
Third-Party Administrator
<p>Desjardins Financial Security Life Assurance Company is an insurance and retirement savings administrator that runs recordkeeping and participant a... -
Empire Life Investments Ltd. - Kingston, ON
Third-Party Administrator
<p>Empire Life Investments Ltd. is a retirement plan administrator that provides recordkeeping and fiduciary audit support for employer-sponsored reti... -
Employee Fiduciary - Mobile, AL
Third-Party Administrator
<p>401(k) administration and recordkeeping for small businesses, with a focus on keeping plan costs straightforward. Employee Fiduciary handles day-to... -
Empower - Greenwood Village, CO
Third-Party Administrator
<p>Empower is a retirement plan administrator that provides recordkeeping for employer-sponsored retirement plans. It is the second-largest retirement... -
Epic Retirement Plan Services - Rochester, NY
Third-Party Administrator
<p>Retirement plan administration and recordkeeping are the core of Epic Retirement Plan Services (Epic RPS), a third-party administrator that also pe... -
Equitable - New York, NY
Third-Party Administrator
<p>Recordkeeping and retirement plan administration are the core of Equitable’s work for employer-sponsored plans. The firm handles day-to-day plan op... -
Fidelity Investments - Boston, MA
Third-Party Administrator
<p>Provides retirement plan administration and recordkeeping for employer-sponsored plans. Fidelity Investments is a multinational financial services ... -
ForUsAll - San Carlos, CA
Third-Party Administrator
<p>Built for startups and small to mid-sized employers, ForUsAll runs 401(k) plans with a focus on plan design and recordkeeping. Founded in 2012, the... -
Guideline, Inc. - Burlingame, CA
Third-Party Administrator
<p>Retirement plan administration and recordkeeping are the core of Guideline, Inc., a fintech provider focused on 401(k) plans for small and midsize ... -
Gusto
Third-Party Administrator
<p>Best known for tying payroll and benefits into one system, Gusto offers an integrated way for employers to run payroll, handle HR basics, and add w... -
Human Interest - San Francisco, CA
Third-Party Administrator
<p>Retirement plan administration is the core of Human Interest’s business, with recordkeeping and compliance support for employers that offer 401(k) ... -
J.P. Morgan Asset Management - New York, NY
Third-Party Administrator
<p>Manages investments and runs retirement-plan administration support, with recordkeeping as a core service. The firm works with employers that spons... -
John Hancock - Boston, MA
Third-Party Administrator
<p>Retirement plan administration and recordkeeping are a core part of John Hancock’s business, offered through John Hancock Retirement Plan Services,... -
Journey Retirement Plan Services - Grand Rapids, MI
Third-Party Administrator
<p>Retirement plan administration and recordkeeping are the core of this firm’s work, with a focus on day-to-day plan operations for employers.</p> <... -
July Business Services - Waco, TX
Third-Party Administrator
<p>Retirement plan administration and recordkeeping are the core of July Business Services (JULY Services, LLC), with payroll integration built into i... -
KTRADE - Plymouth, IN
Third-Party Administrator
Retirement plan provider. -
Lincoln Financial Group - Radnor, PA
Third-Party Administrator
<p>Retirement plan administration is a core part of Lincoln Financial Group’s business, with a focus on recordkeeping and compliance support for emplo... -
Manulife Financial Corporation - Toronto, ON
Third-Party Administrator
<p>Manulife Financial Corporation is a retirement plan administrator that handles recordkeeping and participant advice for employer-sponsored plans. F... -
Milliman - Seattle, WA
Third-Party Administrator
<p>Recordkeeping and retirement plan administration are core services at this independent actuarial and consulting firm. Founded in 1947, it works wit... -
My Solo 401k Financial LLC - Carlsbad, CA
Third-Party Administrator
<p>Self-directed Solo 401(k) plan setup and ongoing compliance are the focus of this retirement plan administrator. Founded in 2009, the firm works wi... -
Nabers Group LLC - Scottsdale, AZ
Third-Party Administrator
<p>Focused on Solo 401(k) plans for self-employed people and small business owners, Nabers Group LLC (doing business as solo401k.com) handles plan set... -
Nationwide Mutual Insurance Company - Columbus, OH
Third-Party Administrator
<p>Retirement plan administration and recordkeeping are part of Nationwide Mutual Insurance Company’s employee benefits business, supporting employers... -
NWPS - Seattle, WA
Third-Party Administrator
<p>Independent retirement plan recordkeeping and administration is the focus at NWPS, an administrator that handles day-to-day plan operations for emp... -
Open Access Ltd. - Toronto, ON
Third-Party Administrator
<p>Focused on group retirement plans and pension administration, Open Access Ltd. handles the day-to-day work behind employer-sponsored plans, from se... -
Paychex - Rochester, NY
Third-Party Administrator
<p>Payroll, HR, and retirement plan administration are handled by Paychex, which provides recordkeeping services for employer-sponsored plans. The com... -
PCS Retirement, LLC - Philadelphia, PA
Third-Party Administrator
<p>Retirement plan recordkeeping is the core service of PCS Retirement, LLC, an administrator founded in 2001. The firm is headquartered in Philadelph... -
Principal Financial Group, Inc. - Des Moines, IA
Third-Party Administrator
<p>Retirement plan administration and recordkeeping are a core part of this long-running financial services company’s business, with support for plan ... -
Royal Bank Of Canada (RBC) - Toronto, ON
Third-Party Administrator
<p>Retirement plan administration is one of the areas handled by Royal Bank of Canada (RBC), a financial institution founded in 1864. Headquartered in... -
Sentinel Group - Wakefield, MA
Third-Party Administrator
<p>Retirement plan administration is Sentinel Group’s core focus, with recordkeeping, participant advice, and plan design services for employers. Foun... -
Sharebuilder 401k - Seattle, WA
Third-Party Administrator
<p>ShareBuilder 401k is a retirement plan administrator and recordkeeper focused on 401(k) plans for small and mid-sized businesses, including self-em... -
Slavic401k - Boca Raton, FL
Third-Party Administrator
<p>Retirement plan administration and recordkeeping are at the center of Slavic401k’s work, with a focus on 401(k) plans for small businesses, Profess... -
Sun Life Financial - Toronto, ON
Third-Party Administrator
<p>Retirement plan administration and recordkeeping are a core part of what Sun Life Financial does for workplace plans, alongside participant advice ... -
The Vanguard Group, Inc. - Malvern, PA
Third-Party Administrator
<p>Retirement plan administration and recordkeeping are a core part of Vanguard’s business, supported by its client-owned structure and long-running f... -
TIAA - New York, NY
Third-Party Administrator
<p>Retirement plan administration is the core of TIAA’s work, with a focus on workplace retirement programs for organizations in higher education, res...
Understanding Defined Benefit Retirement Plans
A defined benefit plan, often referred to as a traditional pension plan, is a type of employer-sponsored retirement plan where employee benefits are calculated using a formula that considers factors such as salary history and length of employment. Unlike defined contribution plans (like a 401(k)), the employer bears the responsibility and risk for ensuring sufficient funds are available to pay the promised benefits when the employee retires.
For businesses looking to offer comprehensive retirement solutions, understanding the complexity and obligations of a defined benefit plan is crucial. These plans offer employees a predictable income stream in retirement, which can be a significant advantage in attracting and retaining talent. However, they also require careful administration, actuarial analysis, and compliance with strict regulatory requirements, making the selection of the right provider essential.
Key Features of Defined Benefit Plans
When reviewing retirement plan providers, focus on their expertise in managing these complex structures. A well-managed defined benefit plan is characterized by several key features:
- Guaranteed Payments: The benefit amount is predetermined by the plan formula, regardless of the performance of the plan's investments.
- Employer Responsibility: The employer is responsible for funding the plan to meet future obligations.
- Professional Management: Plans require professional management, including actuarial calculations and investment oversight, to ensure long-term solvency.
- PBGC Insurance: Most private-sector defined benefit plans are insured by the Pension Benefit Guaranty Corporation (PBGC).
Choosing the Right Defined Benefit Plan Providers
Selecting a retirement plan provider involves evaluating their experience, technological capabilities, and service offerings specific to defined benefit plans. Providers must demonstrate proficiency in actuarial services, compliance reporting, asset management, and participant communication. It’s important that they can navigate the evolving legal landscape and provide robust support for funding strategies.
When comparing providers, consider these essential services:
- Actuarial Valuations: Accurate annual valuations are required to determine funding status.
- Recordkeeping and Administration: Comprehensive management of participant data, distributions, and benefit statements.
- Investment Consulting: Guidance on investment strategies designed to meet long-term liabilities.
- Compliance and Reporting: Expertise in filing Form 5500 and adhering to ERISA and IRS regulations.
Whether you are establishing a new pension plan or seeking a new administrator for an existing defined benefit program, having a trusted partner is paramount. The right provider will help mitigate risks, ensure regulatory compliance, and most importantly, secure the financial future promised to your employees. We list top providers who specialize in delivering comprehensive and reliable retirement solutions, helping businesses manage the intricacies of these traditional yet highly valuable plans.
If your organization is also considering other types of retirement options, you may wish to explore information on Defined Contribution Plans, or perhaps learn about Cash Balance Plans, which are a hybrid type of defined benefit plan. Exploring all available options ensures you select the best fit for your workforce and financial goals.