News & Announcements

For new and existing RecordkeeperDirect® plans, TPAs can now set up separate plan-level fees for specific distribution types — e.g., hardship, Qualified Domestic Relations Order (QDRO) and death (beneficiary) distributions — to be assessed automatically at the time of distribution.

Previously, TPAs could set up only one distribution fee per plan and make ad hoc fee requests for other distribution types through letters of instruction or writing in the margins of the distribution form.

We’ve updated Plan manager, your onboarding tool to set up RecordkeeperDirect plans online, to accommodate multiple TPA distribution fees (log in and find Plan manager).
 

RecordkeeperDirect forms have also been updated with this enhancement, including:

• Retirement Plan Specifications Part 2 of 2 — Plan setup document for TPAs to complete
• Fee Payment Authorization For Payments to Capital Group or Third Parties — Modify TPA payments for a single plan
• Third-Party Administrator Bulk Fee Update Request — Update TPA distribution fees for multiple plans
• Fee Disclosure Customization Request — Customize or modify the information in a plan’s fee disclosure document