A news release said the new data follows the first study focusing on TPA Demographics, Behaviors, New Business Acquisition, and Business Characteristics (see Pulse Logic Releases TPA Study).
The second concentrated on establishing TPA performance benchmarks and their resultant best practices. According to the news release, the second study found that TPA firms that exhibited superior revenue per employee had the following characteristics:
- higher plan and participant count
- tended to be consulting TPAs
- primary business source: advisers based
- created an annual business plan
- are operationally function based
- have documented business practices
- are not early tech adopters
- have a succession plan, properly funded
- use a mix of internal recordkeeping and outsourced recordkeeping partnerships.
To receive more information, contact Ken Cochrane, Managing Director at Pulse Logic (email@example.com) or Kendall Kay,Director (firstname.lastname@example.org).