403(b) TPA Services for Schools

Let our Spokeskids Teach your Teachers About Saving For Retirement

Your Human Resources/Benefit department is already saddled with a huge administrative burden. Let us take care of your 403(b) compliance and administration issues. This turnkey Third Party Administration (TPA) service includes everything you need: vendor oversight, plan administration, compliance, common remitting as well as your own website where kids teach your staff about saving for retirement. The website has your district logo, all the forms your employees need, and vendor contact information. You can implement our services and change vendors with minimal disruption to your 403(b) plan.

Vendor Oversight Services:

  • Select or pare down the best vendors
  • Review and approve all plan activity, including salary reduction agreements, loans, distributions and hardship withdrawals
  • Ensure your vendor is conforming to your plan document provisions and investment requirements

Plan Administration and Compliance:

  • Provide plan document
  • Monitor loans, hardship withdrawals, eligibility and limits under sections 402(g) and 415
  • Process contributions and distributions

Common Remitting:

  • Work with your payroll department to streamline employees’ investment elections and payroll contributions to plan vendors
  • Reduce your current administrative tasks

Employer Communications:

  • Annual report on vendor compliance, testing and plan level highlights

Employee Communication: Spokeskids.com

  • State-of-the-art website with video education and a 403(b) enrollment portal
  • Captivating as well as informative
  • Fulfills meaningful notice requirements
  • Helps to increase participation
  • Eases your administrative burden

Why work with an Independent TPA?

  • Because we are not affiliated with an investment product, we collect fees for administrative services only
  • We will review of your approved 403b providers for willingness to enter into Information Sharing Agreements
  • We will keep your plan document current by providing timely legislative updates and required plan amendments
  • We will remind and assist you in the annual requirement to distribute the Universal Availability notice

Contact NIS today for a FREE 15-minute consultation

Click Here for a Free 15-Minute Consultation

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