The Benefits of Unbundled Retirement Plan Services
Administration/TPA, recordkeeping, advisory, and custodial roles are contracted separately for transparency and flexibility.
What ‘Unbundled’ Means
Administration/TPA, recordkeeping, advisory, and custodial roles are contracted separately for transparency and flexibility.
Pros and Cons
Pros: provider choice, fee clarity, best‑of‑breed teams
Cons: more vendor coordination and responsibility for oversight
Fit Assessment
Unbundling often fits sponsors seeking tighter control over fees, investments, and service levels.
Plan Sponsor Action Checklist
Checklist
Inventory current providers and fee structures.
Checklist
Decide which roles you want discretion over (e.g., 3(38) vs. 3(21)).
Checklist
Create an annual service‑provider review calendar.
Talk to our team
References
- General industry governance practices.