3(16) Fiduciary Services in Wexford

3(16) Fiduciary Services

We Make it Easier for Retirement Plan Sponsors to Focus on their Business.

As a fully independent 3(16) fiduciary whose founders have extensive backgrounds in the TPA marketplace, Anchor 3(16) Fiduciary Solutions, LLC will assume various administrative responsibilities for sponsors and administrators of qualified retirement plans making it easier to focus on running their business.

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Why Sponsors Should Engage Anchor 3(16)

Anchor 3(16) performs tasks in conjunction with the TPA, financial advisor, payroll provider, and investment platform for seamless operation of the plan. Through this arrangement, plan sponsors can reduce their fiduciary liabilities while enjoying greatly increased time to focus on growing and maintaining their business.

Highly Experienced, Credentialed Staff

Time-Savings

Plan Administrator Named in the Summary Plan Description

Coordination of Services

Reduces Administrative Tasks and Responsibilities

Individualized Packages Available

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3(16) Plan Administration Packages

Message In a Bottle

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Captain

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(Includes Message in a Bottle services plus)

Maintain a fully executed copy of plan documentation
Provide initial participation paperwork directly to participants
Eligibility verification
Retain completed election forms and beneficiary designations
Ensure timely remittance of 401(k)
Reviewing payroll reports and deposits to investment accounts
Review and sign Government Form 5500 and Form 8955-SSA
Submission of payroll contribution files to vendor (subject to the requisite access)

Admiral

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Includes Captain services plus)

Confirm that salary deferrals, loan repayments are properly reflected on pay date payroll reports
Review and verify auto-enrollment to participants
Review and verify auto-increase of deferral rates of participants
Receive completed elections from participants
Advise fundholder/payroll provider/plan sponsor of participant changes to elections
Review suspension of deferrals for hardships
Ensure unvested balances have been calculated correctly and forfeited
Maintain fidelity bond and review annually to ensure compliance
Act as agent for service of legal process for the plan