403(b) TPA Services for Schools

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, and common remitting. 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

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