TPC is owned and operated by a law firm (Garza & Harris, LLP) in Dallas, Texas, which specializes in designing retirement plans. The administrators employed by TPC have been certified by The American Society of Pension Actuaries to be Qualified Pension Administrators (QPA) and Qualified 401(k) Administrators (QKA). These are highly trained professionals dedicated to pension administration and pension law. All of our administrators have the background knowledge to consult with our clients on complex matters. Moreover, each of our ERISA lawyers has at least 25 years experience in retirement plan law.

 

Proper plan representation involves three separate and distinct parts. First is plan design. Unfortunately, many unqualified individuals design retirement plans. These people are usually product salesmen who use a qualified plan as a way to sell products endorsed by their employer. They use prototype documents that are most often improperly completed or not completed at all. For the first time ever, the IRS has disqualified a prototype plan that was not fully completed. In this case, the tax court actually upheld the IRS stating that prototype documents must be fully completed in order to contain all the elements of a qualified plan. At TPC, our ERISA lawyers' main job is to design a custom plan that meets our client's needs and then get it approved by the IRS. TPC does not receive commission from the sale of products on your plan. We are compensated solely for plan design and administration.

 

The second element of complete plan administration is record keeping. TPC has state-of-the-art systems to provide for efficient and accurate record keeping. Our competitors often use part-time employees or college students to maintain records. TPC uses QPAs and QKAs who have the skills to maintain proper records as well as the ability to identify and correct problems as they arise.

 

The third element of proper plan administration involves the ability to advise the client on the many legal issues involving plan operation. For example, TPC can assist clients by analyzing Qualified Domestic Relation Orders to ensure they meet satisfactory requirements prior to making distributions, determining the proper method of handling qualified plans for acquired companies, and performing a host of others. Unfortunately, every prototype document we have ever seen requires the plan sponsor to sign a representation that has not relied upon the prototype provider, but has relied upon the plan sponsors' own professional advisors with respect to design and completion of the plan. In other words, the people masquerading as pension professionals actually have you sign a waiver holding them harmless from any damage they may cause you as a result of their errors and omissions.

 

To successfully take over your company's plan, TPC will assign a conversion team including an experienced administrator and two well-trained assistants. After conversion, one of the assistants will be assigned to your case and will continue to be involved in the daily valuation aspect of the administration of your plan.