Before and after The Architect 401(k) Solution Administration

Your Duties Before:

  • Determine participant eligibility
  • Send out enrollment packets including Summary Plan Description (SPD),404(c) Compliance Information, Qualified Default Investment Alternative(QDIA), and Explanation of Expenses
  • Comply with ERISA Section 2550.404(c) provisions for participant communication, including but not limited to:
    • Notice to participants of intention to comply with 404(c)
    • A description of investment alternatives available in the plan
    • General description of the investment objectives and return characteristics of each alternative
    • Description of transaction fees and expenses that affect the participant's account balance
    • Specified information regarding the plan fiduciaries
    • A description of the annual operating expenses of each designated investment alternative
    • Copies of prospectuses, financial statements, and reports provided to the plan
  • Address specific participant requests and/or instructions in compliance with 404(c)
  • Administer participant loans in compliance with statutory requirements
  • Send out Participant Termination packets
  • Administer distribution and rollover requests for terminated employees
  • Oversee annual census reconciliation with TPA
  • Review and validate compliance testing
  • Provide for annual audit of the plan
  • Oversee and manage process, in conjunction with TPA, for annual filing of Form 5500
  • Send out required year-end notices to participants

The Architect 401(k) Solution Plan Administration provides the solutions you need to save time, maintain 401(k) compliance, and save you money! We provide oversight, plan guidance and document execution.

ERISA 3(16) Plan Administration

Are you sure you're doing everything that is required by the IRS and DOL to offer and maintain your retirement plan?

Does your retirement plan create an administrative burden for you or a key staff person?

The Finway Group is changing the way you handle the Administration of a retirement plan. Plan documentation, reporting and notifications can drain your internal resources. With increasing regulatory requirements, businesses can expect to dedicate even more time managing the day-to-day requirements as your Plans Administrator.


There are three forms of 3(16) services in the marketplace today:

  • Supplemental, non-fiduciary ("ministerial") support services such as document mailing and "hands free" processing of loans and distributions.
  • Limited scope acceptance of some of the functions of the plan administrator but not all.
  • The Architect 401(k) Solution Plan Administrator role, to include being named as the 3(16) Plan Administrator in the plan document and other governing documents and contracts. The Architect 401(k) Solution Administration takes the level of outsourcing to its logical conclusion-acceptance by the service provider of all or nearly all of the functions of the administrator as well as the legal title.

The Architect 401(k) Solution is an ERISA 3(16) Plan Administrator. Outsourcing to The Finway group will save you time, and save you money. Let us focus on your retirement plan, while you focus on growing your business.

ERISA 3(16) Plan Administration Responsibilities include:

  • Overall operational compliance
  • Document compliance
  • Mandatory interim restatements
  • Form 5500
  • Audit
  • New Hire Processing
  • Auto enrollment administration
  • Default investment administration
  • Automatic contribution increase administration
  • ERISA Sec 105 employee benefit statement
  • Reasonableness of Fees
  • Prudent monitoring/selection of service providers
  • Benefit determination and disputes
  • Administration of Beneficiary Rules
  • Nondiscrimination testing
  • Summary Annual Reports (SAR)
  • Allocation of unallocated monies by plan year end
  • IRC Sec 72(p) loan administration
  • Limitation calculations
  • Annual notices
  • Segregation of assets by source
  • Coverage testing and corrections
  • Involuntary distributions
  • Distributions
  • Hardship distributions
  • Qualified Domestic Relations Orders (QDRO)
  • Lost/missing participants and unclaimed benefits
  • Plan termination and partial terminations
  • Spousal consent
  • Summary Plan Description
  • Summary Material Modification
  • Timely remission of deferrals and loan payments
  • Blackout Notices
  • Respond to participant inquiries
  • Participant fee disclosures
  • Form 1099R Administration
  • Required Minimum Distributions
  • Top Heavy Minimum benefits Overpayments Acceptance or rejection of rollovers or transfers

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