Q2 2025 Newsletter
July 11, 2025
At Primark Benefits, we’re committed to helping employers and advisors navigate the complexities of retirement plans with clarity and confidence. This quarter, we’ve published a range of new articles designed to inform, debunk misconceptions, and highlight opportunities—especially those that can still make a difference for 2024. Next quarter, we'll be continuing our "Retirement Plan Myths Busting" Series and featuring a new case study showing how smart plan design solved a tricky compliance issue.
Here's What You Need to Know
It’s Not Too Late! Employers Can Still Set Up Retirement Plans and Get Large Tax Deductions for 2024
Recent changes in tax law have expanded the flexibility employers have when it comes to establishing and funding retirement plans. If you haven’t yet set up a retirement plan for 2024, we have good news: it might not be too late!
When most people think about retirement plans and pensions, what comes to mind are the big-name players: government systems, large corporations, and the financial institutions that support them such as banks, brokers, and investment firms. These organizations tend to be the visible “faces” of retirement savings, managing assets, issuing account statements, and promoting their expertise through marketing and media. But behind the scenes, there’s another essential player who often goes unnoticed: the Third-Party Administrator, or TPA. In a previous post, we explored how TPAs have emerged to meet vital client needs that large investment firms often overlook, such as tailored plan design, compliance, and personalized service. If you missed that article, click here to read it before diving into today’s topics: The risks of relying solely on asset-driven providers, and why personalized plan administration still matters.
Navigating the numerous retirement plans offered in the marketplace can be confusing, even before considering the many myths surrounding the topic. In our work with clients, we hear about these misconceptions that often steer employers in the wrong direction. In this second installment of an ongoing “myth-buster” blog series, we address three more of the most common retirement plan myths that we hear. For our first installment, click here .
Part I: A Brief History of TPAs When discussing retirement plans and pensions, many people immediately think of public sector entities and large corporations and the financial institutions that support them, such as banks, brokers, and investment firms. These entities tend to appear as the visible “faces” of retirement savings: managing assets, issuing account statements, even airing commercials touting their investment expertise. But what many folks don’t realize is that there's another key player behind the scenes: an entity called a Third-Party Administrator, or TPA. In today’s post, we explore the history of the Third-Party Administrator, beginning with the rise of retirement plans in the U.S.
Navigating the numerous retirement plans offered in the marketplace can be confusing, even before considering the many myths surrounding the topic. In our work with clients, we hear about these misconceptions that often steer employers in the wrong direction. In this first installment of an ongoing “myth-buster” blog series, we address three of the most common retirement plan myths that we hear.
As we wrap up the second quarter of 2026, one trend continues to stand out: retirement plans are becoming increasingly specialized. Whether driven by changing regulations, unique workforce structures, or evolving business goals, employers are finding that a one-size-fits-all approach simply doesn't work. This quarter, we explored the unique retirement plan challenges facing several industries—including medical and dental practices, construction companies, architecture and design firms, wineries, and California employers navigating CalSavers requirements. We also continued our series on the hidden risks of low-quality retirement plan services, highlighting how operational complexity, fragmented accountability, and misaligned incentives can create costs that extend far beyond administrative fees. For employers still evaluating their retirement plan options, we also discussed opportunities that many business owners overlook, including the ability to establish retirement plans after filing a tax extension and potentially generate meaningful tax savings. Below is a recap of the articles we published this quarter. We hope they provide practical insights to help you reduce risk, improve plan performance, and make more informed retirement plan decisions.
When considering retirement plans, employers in the private sector are often focused on designing a compliant plan that meets the needs of their owners and employees. While that process for private sector entities can certainly be complex, nonprofit organizations face an entirely different set of considerations, related to funding, staffing, governance, and organizational structure, to name just a few. From seasonal employees and grant-funded positions, to creative executive retention strategies and legacy retirement programs, to smaller budgets serving a mission, there is so much behind the scenes that can affect a nonprofit organization’s ideal retirement plan. At Primark Benefits, we've worked with nonprofit organizations of all sizes throughout our history, from large institutions with hundreds of participants to small community organizations with fewer than 20 employees. In addition, many members of our management team serve on nonprofit boards across the country for organizations and causes near and dear to their hearts. All that combined experience has validated what makes a retirement plan most successful: understanding the organization itself.
The Mega Backdoor Roth strategy has become one of the most talked-about retirement planning techniques in recent years. Financial publications regularly highlight its potential to help participants contribute far more than the standard deferral limits allow. However, while the strategy can be extremely valuable, an important limitation is often overlooked: due to nondiscrimination testing requirements, some employer-sponsored retirement plans may prevent certain participants from taking full advantage of it. Before assuming a Mega Backdoor Roth will work in your plan, it is important to understand how the strategy operates—and where it can run into trouble.