Retirement Plan Administrator
& Fiduciary Services
Your Retirement Plan, Streamlined with Expertise and Innovation
Summit Consulting has joined forces with Admin316, a premier retirement plan administration provider based in Corpus Christi, Texas, to offer businesses a fully unified and streamlined retirement plan management experience. This collaboration brings together Summit Consulting’s expertise in strategic plan advisory and ERISA fiduciary services with Admin316’s comprehensive administrative and compliance capabilities. The result is a one-stop solution that covers every key element of retirement plan oversight—from initial plan design and daily administration to regulatory reporting and compliance monitoring.
In addition to this partnership, Summit Consulting works closely with many of the retirement industry’s most trusted providers, including Fidelity Investments, Empower Retirement, PCS Retirement, Voya, and others. These alliances allow us to deliver adaptable and scalable plan solutions that cater to the specific goals and workforce needs of each organization, regardless of size or structure.
Outsourcing your retirement plan responsibilities to Summit Consulting gives you access to advanced, automated systems that simplify the most complex compliance tasks. Our technology facilitates accurate preparation of government filings, creation of required plan documents, and secure data handling—all while keeping your plan aligned with evolving regulatory standards. This approach not only enhances efficiency but also significantly reduces fiduciary risk and administrative strain.
With this integrated service model, Summit Consulting empowers you to maintain a retirement plan that reflects the highest levels of diligence, regulatory compliance, and operational excellence. Together with Admin316, we deliver a smart, secure solution designed to protect your business interests and support your employees’ financial well-being.
How We Work
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.
Our Services
We offer expert guidance to meet regulatory requirements while safeguarding your organization’s fiduciary responsibilities.
Section 402(a) of the ERISA Named Fiduciary
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.
Section 3(16) Administrator of ERISA
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.
Section 3(38) of ERISA: 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.
About Us
At Summit Consulting Group, we trust Admin316 to seamlessly manage many of the essential services for your retirement plan. As your designated Trustee, we take on the critical responsibility of overseeing the administration of your plan, ensuring it runs smoothly and in compliance with all regulations.
Every retirement plan must designate at least one trustee, and we’re here to protect the integrity and fiduciary responsibility of that plan. But understanding the roles of each party involved is key to ensuring your plan’s success.
So, who’s who when it comes to managing your retirement plan?
Who is the Third-Party Administrator (TPA), Recordkeeper, and Custodian?
Who oversees your plan’s investments?
Are our advisors responsible for investment decisions?
Are they licensed to serve as a 3(21) or 3(38) fiduciary?
Who carries the responsibility, and what does it mean for you?
Navigating these questions with clarity and confidence is essential. With Admin316 and our trusted team, we ensure that all roles are clearly defined and that your retirement plan is in safe, capable hands.
Our Blogs
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Read MoreFrequently Asked Questions
How can a fiduciary for a retirement plan reduce the liabilities of the plan sponsors?
A retirement plan fiduciary, especially a 316 fiduciary, assumes crucial administrative duties such monitoring day-to-day plan operations, completing federal papers on schedule, and guaranteeing ERISA compliance. Plan sponsors can greatly lower their risk of fiduciary liability by assigning these responsibilities, giving them the confidence to focus on their main business operations.
In operating a retirement plan, especially in conjunction with a retirement plan administrator, what function does a fiduciary financial planner serve?
To guarantee that retirement plans are administered with the participants’ best interests in mind, a fiduciary financial planner is necessary. They provide fiduciary wealth management services, which include regulatory compliance, strategic financial advising, and supervision of investment decisions, in close collaboration with the retirement plan administrator. This collaboration improves the overall performance of the plan while assisting plan sponsors in carrying out their fiduciary duties.
What are the advantages of administering retirement plans through a 316 fiduciary?
A 316 fiduciary offers full-service retirement plan administration, taking care of everything from participant notifications and compliance to necessary paperwork. Company leaders and HR departments can free themselves from these intricate duties by using 316 fiduciary services, leaving a fiduciary management specialist to guarantee the plan stays both economical and compliant.
What distinguishes standard retirement plan administration from fiduciary wealth management, which is overseen by a fiduciary financial planner?
Managing a retirement plan’s day-to-day administrative duties is only one aspect of fiduciary wealth management. Strategic financial oversight is provided by a fiduciary financial planner to guarantee that the investments made by the plan are in the best interests of its members. These qualified experts provide long-term strategies intended to maximize plan performance and improve financial outcomes, going beyond simple compliance.
