Vol. 1, No. 2Friday, October 16, 2026Not a real newspaper

The 401(k) Liar

America's Least Trusted Source for Retirement Plan News

National TPA Day Edition

Breaking · Deadline Aftermath

Nation's TPAs Emerge Into Daylight, Ask Whether Sun Is New

October 15 deadline passes; administrators cautiously reunite with families, outdoor air, dog acquired in August.

Three exhausted plan administrators emerge from an office into autumn sunlight; the woman in front shields her eyes while holding coffee and a file.
Administrators inspect a light source that does not appear to be connected to a monitor. No one could locate its brightness settings.AI-generated satirical photo illustration

Third-party administrators began emerging from offices across the country Friday after the October 15 extended filing deadline for calendar-year plans, cautiously approaching the outdoors and asking colleagues whether the large light in the sky had always been there.

“Was that there in July?” asked Marcy Feldkamp, a senior plan administrator at Tri-County Pension Services, holding one hand above her eyes. “I feel like someone would have mentioned it.”

Feldkamp said her last clear memory of life outside the office involved a barbecue invitation she had declined because things would “settle down after the extensions.” Upon returning home, she was greeted by her husband, two children, and a golden retriever whose onboarding she did not recall approving.

“Apparently we've had him since August,” she said. “I asked for his date of hire.”

At another firm, partner Doug Ostrowski produced a 214-message email thread requesting one sponsor's year-end census. The first message was dated January 6. The data arrived October 14 at 4:52 p.m., as a photograph of a spreadsheet displayed on a second phone.

“In June we sent a singing telegram,” Ostrowski said. “He tipped the singer and said he'd get to it.”

“He said he sent everything. We have learned that ‘everything’ is a negotiating position.”

The sponsor, HVAC company owner Ron Gessler, said he had been happy to help. “They asked for it, I sent it, and they filed it,” he said. “That's what I like about this relationship. No drama.”

Gessler added that the invoice seemed high for “uploading a form.”

At firms nationwide, the return to ordinary life proceeded in stages. One administrator attempted to reconcile a restaurant bill to the prior year's total. Another asked her spouse to confirm, in writing, that they had no other children under common ownership.

Friday's National TPA Day observance offered a chance to recognize their contribution. Feldkamp said she would mark the occasion by sitting somewhere without a password.

At press time, her phone had lit up with a message from a sponsor: “Found the other payroll.”


Special Report · Tuesday to Friday

The Last 72 Hours: An Oral History of One TPA's Deadline

  1. Tuesday, 9:00 a.m.“We're in good shape. Only 41 left.” Nobody asks what “good shape” used to mean.
  2. Tuesday, 11:40 a.m.Lunch and dinner are ordered together. Someone selects “repeat order” for Wednesday.
  3. Tuesday, 9:58 p.m.A sponsor mentions his other company. It has employees. They have deferrals. The team opens a new tab and closes its eyes.
  4. Wednesday, 2:30 p.m.The last outstanding sponsor asks whether Friday works. He is told what Friday is. “Right,” he says. “So, morning?”
  5. Wednesday, 4:52 p.m.The census photograph arrives. An administrator rotates it 90 degrees. This is the first measurable progress in nine months.
  6. Thursday, 6:11 p.m.“Sign it, Gary. Just sign it.” Gary is in Cabo. His out-of-office message invites urgent inquiries to contact Gary.
  7. Thursday, 11:47 p.m.Gary signs. Three people refresh the same screen independently.
  8. Thursday, 11:56 p.m.The final filing is submitted. The acknowledgment is saved in three locations. Someone suggests a fourth.
  9. Thursday, 11:59 p.m.The printer is switched off. For several seconds, nobody recognizes the silence.
  10. Friday, 9:00 a.m.“For next year, what do you need from us and when?” The email is forwarded internally under the subject line “Is this real.”

Around the Industry

Sponsor Who Sent Census October 14 Advises TPA to Plan Ahead

Business owner Kyle Brandt offered some management advice Friday after his TPA answered the phone with “It's done, Kyle.”

“She sounded overwhelmed,” said Brandt, who had ignored nine census requests and replied to a tenth with a thumbs-up. “You can't leave everything to the last minute.”

Brandt has scheduled a meeting to discuss improving the process. He has asked to move it three times.

Recordkeeper Honors National TPA Day With Mandatory 9 A.M. Webinar

Meridian Trust Services thanked its TPA partners Friday with a 90-minute presentation titled “Giving You Time Back.”

The session included 64 slides, two polls, and a demonstration of a new portal that requires everyone to create another account.

Attendees who could not make it were assured a recording would be available, along with reminders asking whether they had watched it.

Filing Acknowledgment Gets Frame Previously Occupied by Family Photo

A compliance analyst placed her final EFAST2 filing acknowledgment in a silver frame Friday, relocating a photograph of her children to a nearby drawer.

“The kids know I love them,” she said. “This has a timestamp.”

Her husband said he understood, but asked whether their wedding picture could stay until year-end testing.

“What Do You Do the Rest of the Year?” Asks Man About to Find Out

A dinner guest triggered an unscheduled overview of retirement plan administration by asking a TPA what she does “after the tax stuff.”

She set down her fork and began with eligibility. Dessert arrived during nondiscrimination testing. The host put the chairs away at required minimum distributions.

The guest later described the answer as “more ongoing than I'd expected.”