Products
Pulse Logic Releases Second TPA Study
Pulse Logic has published the results of the second of two studies on
third-party administrators, analyzing performance
benchmarks and best practices.
Reported by Fred Schneyer
A news release said the new data follows the first study focusing on TPA demographics, behaviors, new business acquisition, and business characteristics (see “Pulse Logic Releases TPA Study”).
This study concentrates on establishing TPA performance benchmarks and best practices. Pulse Logic found that TPA firms that exhibit superior revenue per employee have the following characteristics:
- higher plan and participant count
- tended to be consulting TPAs
- primary business source: advisers based
- created an annual business plan
- are operationally function based
- have documented business practices
- are not early tech adopters
- have a succession plan, properly funded
- use a mix of internal recordkeeping and outsourced recordkeeping partnerships