What is a Third-Party Administrator (TPA)?

A third-party administrator (TPA) for a school district 403(b) plan is a company that is hired to manage certain aspects of the plan on behalf of the employer. 

The TPA acts as a liaison between the employer, the employees, and the investment providers offering products in the plan.

The responsibilities of a TPA for a school district 403(b) plan can include:

• Compliance: The TPA can help ensure that the school district's 403(b) plan is in compliance with all applicable laws and regulations.
  
  
• Administration: The TPA can maintain records of employee contributions, process distributions and loans, and provide regular reports to the employer.