Third Party Administration

Mission Statement:

I am proud to say that I work in the challenging and dynamic field of "Third Party Administration". We are Third Party Administrators (TPA). A TPA act as a liaison between the Plan Sponsors of Qualified Retirement Plans (Plans) like the 401k plans or pension plans sponsored by corporations, small business owners and the Internal Revenue Service (IRS). The major role of the TPA is to make sure the Retirement Plans are in compliance by conducting various tests required per the IRS regulations and guidelines so that the plans maintain the tax qualification status. We also prepare the signature ready tax forms 5500 (which is the annual tax return for company sponsored retirement plans just like the Form 1040 for Individuals). I started doing this in 2001 and now the journey continues over 10 years now. Prior to 2001, I am an Industrial Engineer. So, I do have the technical thinking from an engineering perspective and legal, technical, being well organized skills from the TPA field.

In the world of TPA, the industry acts very fast. There is an always new regulation passed by the IRS and DOL which needs to be adopted on the Plans to be in compliance. There is a federal deadline on the 15th of every month and March 15th & October 15th are our biggest deadlines. I am a Senior Plan Administrator in the company I work for. My responsibilities are collecting the year end data from our clients for their Plans, reviewing for accuracy, determining the eligibility of plan participants, importing the data into the pension software, running the compliance tests per the parameters in the plan document, presenting it to the client and suggesting for improvements or corrective action based on the output of the tests. After the corrective action been taken, then prepare the signature ready 5500 tax returns and forward it to the client for filing with the government. All these tasks are time sensitive - testing has a certain deadline, 5500 filing has a certain deadline. So I am literally to be on my toes at all times. This needs to be very well organized, setting up daily goals, weekly goals and long term plans, implementing the plans.

My mission is not just work by the drawn guidelines but I am also capable of thinking outside the box. I see every task I do on a daily basis on a proactive way and try to improve my knowledge, company's growth by suggesting improved/new design in the Plans. I am a hard worker, fast learner and have 'the always willing to learn attitude'. This makes both me and the company make profit even in this tough economic climate.

Current Marketing Situation:

I am currently having two Professional designations:

ERPA - Enrolled retirement Plan Agent & QPA - Qualified Pension Administrator

I worked hard to gain these designations in the past few years. My next goal is attaining a CPC (Certified Pension Consultant) designation in the next two years and becoming an Enrolled Actuary in the four to five years. These designations have series of exams to pass just like ERPA & QPA exams I passed.

As I am also working on my MBA which I should get in the next two years, the Masters degree plus the above industry related designations will make me grow to a higher level as Director or Vice President (Operations - Retirement Plans) in the next five to ten years. This is my long time personal goal. This needs lots of commitment, sacrifice some personal things and focused mindset.

The current marketing environment we live in also adding more challenges because of the economic downturn and stock market crisis in the U.S. and European countries. How to overcome all the hurdles?

1) Hard work,

2) Commitment,

3) Strategically thinking,

4)

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