Having A Payroll Provider As Your 401(k) TPA Is An Awful Idea

Ary Rosenbaum - The Rosenbaum Law Firm P.C.
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I’ve been an ERISA attorney for over 20 years and the one opinion I’ve had for that long is that having a payroll provider to serve as a 401(k) third-party administrator (TPA) is an absolutely bad idea. I say this as an ERISA attorney who derives a lot of business to fixing compliance plans for 401(k) plans that just fired one of the two largest payroll providers as their TPA.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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