Your Retirement Plan, Streamlined with Expertise and Innovation

LSC Financial has joined forces with Admin316, a top-tier retirement plan administration firm headquartered in Corpus Christi, Texas, to provide a fully integrated and streamlined retirement plan management experience. This strategic partnership combines The Advisor Group’s ERISA fiduciary expertise with Admin316’s comprehensive administrative and compliance capabilities, forming a unified solution that covers every aspect of plan oversight—from initial design and daily administration to reporting and regulatory compliance.

Additionally, we work in close collaboration with many of the industry’s most reputable retirement plan providers—including Fidelity Investments, Empower Retirement, PCS Retirement, Voya, among others. These alliances enable us to deliver customizable and scalable retirement solutions tailored to the specific needs of your business and workforce, regardless of plan complexity or size.

By outsourcing these essential services to our team, you simplify the intricacies of compliance using cutting-edge automation tools that handle government filings, generate plan documents, and ensure secure data collection. Our advanced systems help keep your plan up-to-date with ever-changing regulations, significantly easing administrative duties and reducing fiduciary liability exposure.

This cohesive approach equips you with the tools and support needed to manage your retirement plan with confidence, ensuring it operates at the highest levels of compliance, integrity, and efficiency. Together, we help protect your business, secure your employees’ retirement future, and drive long-term success.

Our Proven Approach

Streamline Compliance. Minimize Risk. Empower Your Plan.

Navigating the complexities of retirement plan compliance isn’t just a responsibility — it’s a cornerstone of safeguarding your organization and your participants.

We make this process seamless by offering expert outsourcing solutions that lift the burden from your team and protect your plan with precision.

Our comprehensive, technology-driven approach automates critical tasks such as:

Preparation of Government Filings: Including Form 5500 and all related disclosures.
Generation of Legally Required Plan Documents
Accurate and Efficient Data Collection and Reporting

By leveraging our innovative tools and deep ERISA expertise, you can stay confidently ahead of ever-changing regulatory requirements — with less stress and more security.

Comprehensive Solutions for Confident Retirement Plan Management

We provide expert guidance to help you meet regulatory requirements and confidently fulfill your fiduciary responsibilities.

ERISA Section 3(16) Administrator

A 3(16) Administrator is the person or entity “so designated” in the plan document. The employer is the default Plan Administrator if none is designated. The Plan Administrator is basically responsible for any fiduciary responsibility not assumed by the ERISA section 403(a) Trustee.

ERISA Section 402(a) Named Fiduciary

A 402(a) Named Fiduciary is formally designated in the plan document as the individual or entity with ultimate authority over the management and administration of the retirement plan. In most cases, this role is fulfilled by the ERISA Section 3(16) Plan Administrator.

ERISA Section 3(38) Investment Fiduciary

A 3(38) Investment Manager is a fiduciary under ERISA, responsible for selecting, managing, monitoring, and benchmarking a retirement plan's investments. In some plans, they also have discretionary authority to direct fund investments, except in participant-directed plans.

Driven by Purpose. Defined by People.

At LSC Financial Services Inc., we rely on Admin316 to efficiently handle many of the key functions of your retirement plan. As your appointed Trustee, we assume the vital responsibility of overseeing plan administration, ensuring it operates smoothly and remains fully compliant with applicable regulations.

Each retirement plan must name at least one trustee, and our role is to uphold the integrity and fiduciary standards of the plan. However, clearly understanding the roles of everyone involved is essential to your plan’s success.

So, who does what in managing your retirement plan?

Who serves as the Third-Party Administrator (TPA), Recordkeeper, and Custodian?

Who is responsible for monitoring your plan’s investments?

Are our advisors involved in making investment decisions?

Do they hold credentials to act as a 3(21) or 3(38) fiduciary?

Who is accountable—and what does that mean for you?

Answering these questions with confidence is crucial. With Admin316 and our dedicated team, we ensure every role is clearly defined, and your retirement plan remains in expert, reliable hands.

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Frequently Asked Questions (FAQs)

What are the responsibilities of a 3(16) Plan Administrator?

A 3(16) Plan Administrator handles the daily administrative tasks of a 401(k) plan—like filing forms, sending required notices, and ensuring compliance—while also taking on fiduciary responsibility to reduce the employer’s legal risk.

What happens if a 401(k) plan is not kept compliant?

Non-compliance can lead to plan disqualification, tax penalties, and legal liability for the employer.

What is a 401(k) audit?

A 401(k) audit is a formal review of a retirement plan’s financial records and operations to ensure compliance with IRS and ERISA requirements, typically required for plans with 100 or more eligible participants.

Why is 401(k) plan benchmarking important for employers?

401(k) benchmarking helps employers ensure their plan is competitive, cost-effective, and compliant, ultimately improving participant outcomes and reducing fiduciary risk.