Average 5500 Filing Fee

[URDRWHO]

I posted this in the retirement list and maybe that was the wrong list so I'll try here.

"I've been trying to find what an average fee is for a TPA to complete the 5500 for a 401K but it is difficult to find numbers. Any ideas? I've seen as low as $200 for a welfare benefit plan but I'm interested in the salary deferral fee."

 

[scagnt83]

I posted this in the retirement list and maybe that was the wrong list so I'll try here.

"I've been trying to find what an average fee is for a TPA to complete the 5500 for a 401K but it is difficult to find numbers. Any ideas? I've seen as low as $200 for a welfare benefit plan but I'm interested in the salary deferral fee."

It depends on the size and structure of the plan.

Are you talking about just filing the 5500 form?
Or are you talking about a TPA fee for total administration of the plan?

Just a 5500 is usually around $400-$500 dollars.

But most TPAs do a lot more than just the 5500, they also do crosstesting and maintain/amend the plan documents. administer loans/withdrawals/transfers/contributions/etc.

All of that combined can vary, but $1000 would be about the lowest you will find for total administration of a Platform Based Plan.

For an Open Architecture Plan it will be more around $2k-$3k for administration