With Full 3(16) Services from Benefits² Administrators, we are formally appointed as the Named Fiduciary for day-to-day retirement plan administration. We take on the legal responsibility for key administrative tasks. This frees you from routine compliance duties, reducing fiduciary risk, and giving you time back to focus on your business.
As the Named Fiduciary and Plan Administrator, Benefits² Administrators assumes responsibility for:
Signing and filing Form 5500
Monitoring and delivering required participant notices
Approving loan and distribution requests
Tracking eligibility and enrollment
Ensuring timely and accurate payroll submission and plan operations in real time
Providing full audit support
In addition, our Smarter Census Sync© service is automatically included—streamlining your census data.
Why Employers Choose Full 3(16) Fiduciary Services?
Shifts Fiduciary Liability
We assume legal responsibility for key administrative functions under ERISA.
Saves Time for Your Team
Eliminates repetitive tasks and internal bottlenecks—no more chasing forms or tracking deadlines.
Reduces Risk
With our oversight, you gain greater confidence in operational compliance and audit readiness.
Ensures Timely and Accurate Operations
We proactively manage payroll timing, contribution processing, and participant transactions.
End-to-End Administrative Support
We don’t just file forms—we manage your plan’s daily operations from eligibility tracking to distribution approvals.
Pricing:
Participants with Balance | Annual Fee |
1–25 participants | $1,200/year |
26–50 participants | $1,800/year |
51–100 participants | $2,500/year |
101–500 participants | $2,500/year+ $25 per participant over 100 |
501–1,000 participants | $2,500/year + $20 per participant over 100 |
1,001+ participants | $2,500/year + $15 per participant over 100 |
Additional Fees Associated with Full 3(16) Services:
Smarter Notice Delivery™ – $12 per participant per year (billed quarterly to participant account or client).
Distribution Processing – $25 additional per distribution charged to participant’s account at time of transaction
How Setup Works:
Signing of Additional Services Agreement, signing of authorization forms, and employer signs-in into their payroll provider via our secure portal.
The Smartest Way to Offload Administrative Burden
Get true administrative relief and fiduciary protection with Full 3(16) Services. With Benefits² Administrators serving as your Named Fiduciary, you can trust that your plan is being handled with precision, professionalism, and care and you can focus on running your business.
For example, an employer with 15 employees can sign up for our Full 3(16) Fiduciary Services for just $300 per quarter—that’s only $100 a month. In return, they can save hours each pay period by shifting responsibility for reviewing and approving contributions, handling compliance deadlines, and delivering required notices to us. What might take an owner or HR manager 5–10 hours a month can now be confidently delegated for less than the cost of a daily cup of coffee.
Smarter Payroll Sync©
Seamless Contributions. Automatic Deferral Updates. Eliminate Year-End Hassles.
Limited 3(16) Services
We Sign the 5500 and Distributions—You Stay Focused on Your Business.
Our offices will be closed December 24-26 and January 1.
We wish you and yours a warm and safe holiday season, Benefits² Administrators
