TPA Services for Governmental Plan

[PensionPro]

Our firm has been approached by a governmental entity to provide TPA services to their money purchase plan. Curious as to what type of services TPAs provide for governmental plans other than documents, distribution, rollover and compliance assistance? And do most governmental plans use TPAs?

[david rigby]

Does the governmental entity know what types of services they want?

[PensionPro]

I am more interested in the two questions in the original post. Anyone familiar with these situations? Thanks for any help!

[Jim Chad]

I think that a government plan would have everything except testing and 5500.

Can anyone think of something I am missing?

[PainPA]

Some states have their own version of a 5500 that they might be asking you to complete.

Also usually a 457(b) is part of the retirement plan(s).

[PensionPro]

You are correct, they do also have a 457(b) plan. I am not familiar with the state-level filing requirement. What would be a good place to obtain additional information on that subject? Thank you!

[PainPA]

I would probably just ask the governmental entity. Some states do not have anything.

I guess I was just advising you to make sure you state the service in your agreement to ensure payment.

[PensionPro]

Thanks for your helpful responses. I will check it out.