RETIREMENT SOLUTIONS

Third-Party Administrator (TPA)

Streamline your retirement plan management.

As Third-Party Administrators (TPAs), Daybright can play a crucial role in managing the retirement plans you sponsor, from assisting with recordkeeping to entire administration. We act as an intermediary between you and your plan participants and regulatory bodies, ensuring smooth plan operation and adherence to legal requirements, today and tomorrow.

Through our national network of specialized administrators and consultants, our TPA role includes:

Working closely with you as plan sponsor to design retirement plans that meet your specific needs, with input on design, contribution limits, and investment options

Handling day-to-day administrative tasks and ensuring compliance with legal requirements. This includes maintaining your plan documents, participant records, and coordinating plan activities

Preparing annual reports, including Form 5500*, which provides information about your plan’s financial status, contributions, and investments. These reports are filed with the Department of Labor and the IRS.


*Several federal laws require the distribution of these notices, including the Fair Labor Standards Act (FLSA), the Employee Retirement Income Security Act (ERISA), the Family and Medical Leave Act (FMLA), and the Occupational Safety and Health Act (OSHA).

Conducting the legally required non-discrimination testing to ensure that your retirement plan contributions and benefits are distributed fairly among eligible employees, regardless of their income level or position within the company.

Communicating with plan participants, providing information about enrollment, contributions, investment options, and any changes to the plan. We also assist participants with inquiries and help to resolve issues*.

Monitoring plan compliance throughout the year. We track contributions, vesting, and eligibility requirements, ensuring that the plan adheres to regulations.

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