3(16) Solutions LLC

3(16) Solutions LLC specializes in providing outsourced fiduciary services for employers who sponsor retirement plans, such as 401(k)s. The company's name refers to Section 3(16) of the Employee Retirement Income Security Act (ERISA), which defines the role of a "plan administrator." By assuming this role, 3(16) Solutions helps business owners and plan sponsors mitigate their fiduciary liability and reduce the administrative burden associated with managing retirement plans. Their services include handling participant notices, processing distributions and loans, monitoring eligibility, filing the annual Form 5500, and ensuring overall plan compliance with government regulations.