Benefit Plans
Benefit Plans Inc. is an independent Third Party Administrator founded in 1980 in Omaha, Nebraska, providing retirement plan design, compliance, and administrative services to 750+ small and mid-sized employers and financial advisors across roughly 20 U.S. states.
- Company typePrivate
- Founded1980
- HeadquartersOmaha, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Benefit Plans does
Benefit Plans Inc. (BPI) is an independent Third Party Administrator (TPA) specializing in qualified retirement plan administrative services for small and mid-sized employers and the financial advisors who serve them. Founded in 1980 and headquartered at 16924 Frances Street in Omaha, Nebraska, the firm has consulted on, designed, and administered retirement plans for more than 750 companies across roughly 20 U.S. states. Its service catalog spans six core plan products — Traditional 401(k), Safe Harbor 401(k), Roth 401(k), Profit Sharing, Cross-Tested (New Comparability), and Employee Stock Ownership Plans (ESOPs) — supported by a suite of administrative modules including eligibility and contribution calculations, ADP/ACP nondiscrimination testing and failure corrections, plan transition and document services, plan modernization, consulting and fiduciary education, IRS/DOL audit support, balance-forward administration, and annual Form 5500 reporting. The firm's core technology platform is Relius Administration, an integrated software system positioned as fully compliant with IRS regulations, on top of which the firm coordinates record-keeping through partnerships with ten major platforms including Nationwide, John Hancock, Principal, KTRADE, VOYA, Capital Group/American Funds, Lincoln Financial, Empower, Transamerica, and Mass Mutual.
Revenue is generated through professional-services fees charged to plan sponsors for ongoing administration, with pricing not publicly disclosed and structured on a quoted, plan-specific basis. GTM motion blends direct engagement with plan sponsors (employers) with a deliberate channel motion through financial advisors, who are equipped with dedicated collateral (proposal forms, fact finders, marketing brochures) and a separate website navigation. Marketing investments are minimal and relationship-driven: a LinkedIn presence, newsletter signup, and a compliance-focused resources hub. BPI holds CEFEX (Centre for Fiduciary Excellence) certification as a Certified Retirement Plan Service Provider, a distinction held by only a small elite group of firms, and is privately held with no disclosed institutional investors, funding rounds, or M&A activity.
The leadership team is led by President Neil Lisec with Jodi Reiser as Executive VP and Director of Business Operations, supported by functional directors overseeing consulting, compliance, accounting/IT, business development, and new business services — together with a roster of plan consultants, document specialists, an enrollment coordinator, and accounting staff consistent with the firm's headcount band of 11-50.
Benefit Plans firmographics
Firmographics- Name
- Benefit Plans
- Legal name
- Benefit Plans, Inc.
- Website
- https://bpiomaha.com
- Company type
- Private
- Founded year
- 1980
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Benefit Plans Inc. is an independent Third Party Administrator founded in 1980 in Omaha, Nebraska, providing retirement plan design, compliance, and administrative services to 750+ small and mid-sized employers and financial advisors across roughly 20 U.S. states.
- Ownership category
- akta.pro rank
Benefit Plans industry classification
Industry- Product category
- Retirement Plan Administration Services
- NAICS
- Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292), Insurance and Employee Benefit Funds (5251)
- SIC
- Services-Engineering, Accounting, Research, Management (8700)
- akta.pro primary industry
- Benefits Administration & Enrollment Support (BPAAAIAB)
- akta.pro secondary industries
- Benefits Administration (BPACAPAC), Employee Benefit & Retirement Plan Trust Services (FSAAANAC)
Keywords
Where Benefit Plans is headquartered
LocationHeadquarters
- HQ city
- Omaha
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Benefit Plans business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Retirement Plan Administration Services: BPI generates revenue through fees charged to plan sponsors for comprehensive retirement plan administrative services including plan design, compliance testing, record-keeping coordination, and ongoing plan management. The company operates as an independent Third Party Administrator firm.
Go-to-market motion2 records
Distribution channels2 records
Marketing channels4 records
Benefit Plans product offering
Product offeringCore offering
Benefit Plans Inc. (BPI) is an independent Third Party Administrator that provides retirement plan administrative services to plan sponsors (employers) and financial advisors. Its offerings include plan design, eligibility and contribution calculations, annual nondiscrimination testing, plan document services, plan modernization, fiduciary consulting, IRS/DOL audit support, balance-forward administration, and Form 5500 filings for 401(k), profit sharing, Roth, safe harbor, cross-tested, and ESOP plans. Services are delivered via the Relius Administration software platform and coordinated with leading record-keeping partners.
Product overview
Benefit Plans Inc. (BPI) offers a comprehensive suite of retirement plan administration services as an independent Third Party Administrator. The core offering consists of six distinct qualified retirement plan products — Profit Sharing, Traditional 401(k), Safe Harbor 401(k), Roth 401(k), Cross-Tested (New Comparability), and Employee Stock Ownership Plan (ESOP) — which share a unified administrative infrastructure built on Relius Administration software. These are supplemented by a portfolio of administrative service modules including eligibility/contribution calculations, compliance testing and failure corrections, plan transition and document services, plan modernization, consulting and fiduciary education, IRS/DOL audit support, balance-forward administration, and annual reporting/IRS filings. The company partners with eight major record-keeping platforms (Nationwide, John Hancock, Principal, KTRADE, VOYA, Capital Group, Lincoln Financial Group, and Empower) to deliver end-to-end retirement plan services to plan sponsors and their employees.
Differentiator
Problem solved
Functional benefit
Products and services
- Profit Sharing Plan A defined contribution plan that allows employers to make discretionary contributions on behalf of eligible employees, with tax-deductible contributions up to 25% of total compensation. Administered by BPI for employer plan sponsors seeking flexible retirement benefits.
- Traditional 401(k) Plan A defined contribution plan allowing eligible employees to make pre-tax elective deferrals through payroll deductions, with optional employer profit-sharing or matching contributions. Requires annual ADP and ACP nondiscrimination testing, which BPI administers.
- Safe Harbor 401(k) Plan A Traditional 401(k) Plan variant with mandatory employer contributions (3% non-elective or enhanced match) that exempts the plan from annual ADP/ACP nondiscrimination testing, reducing administrative complexity for plan sponsors.
- Roth 401(k) A 401(k) feature allowing post-tax elective deferrals through payroll deductions, enabling tax-free distributions of Roth deferrals and earnings upon withdrawal. Offered alongside Traditional 401(k) plans as part of BPI's administration services.
- Cross-Tested Plan (New Comparability Plan) A defined contribution plan using cross-testing methodology that divides eligible employees into groups with different allocation rates, designed to maximize benefits for highly compensated employees while satisfying nondiscrimination requirements.
- Employee Stock Ownership Plan (ESOP) A defined contribution plan giving eligible employees beneficial ownership in the company through contributions of company stock or cash, with the option to include a 401(k) feature. BPI administers ESOPs for employer plan sponsors.
- Plan Transition and Document Services End-to-end support for transitioning retirement plans from prior providers to BPI, including document services, enrollment and education materials, termination letters, and SOX notice. Sold as a standalone engagement to new plan sponsors.
- IRS and DOL Audit Support Mediation and representation between employers and the IRS/DOL during retirement plan audits, including document preparation and response management. Offered as a standalone service to plan sponsors facing regulatory review.
- Consulting and Fiduciary Education Advisory services and fiduciary training for plan sponsors and committees on governance responsibilities, investment lineup reviews, and DOL compliance obligations. Sold as a standalone consulting engagement.
- Plan Modernization Updating existing retirement plans to reflect current IRS/DOL regulations, legislative changes, and plan design improvements through plan amendments. Sold as a standalone service to existing plan sponsors.
Companies that use Benefit Plans
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles2 records
Benefit Plans technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
Benefit Plans partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core.
- NationwidecoreRecord-keeping partner. BPI serves as Third Party Administrator coordinating with Nationwide for retirement plan record-keeping services.
- John HancockcoreRecord-keeping partner. BPI coordinates with John Hancock for retirement plan administration and record-keeping.
- PrincipalcoreRecord-keeping partner. BPI provides Third Party Administration services in coordination with Principal for retirement plans.
- KTRADEcoreRecord-keeping partner. BPI coordinates plan administration with KTRADE's record-keeping platform.
- VOYAcoreRecord-keeping partner. BPI provides retirement plan administration services alongside VOYA's record-keeping infrastructure.
- Capital Group/American FundscoreRecord-keeping partner. BPI works with Capital Group/American Funds for retirement plan record-keeping and administration.
- Lincoln Financial GroupcoreRecord-keeping partner. BPI coordinates retirement plan administration with Lincoln Financial Group.
- Empower RetirementcoreRecord-keeping partner. BPI provides Third Party Administration services in partnership with Empower Retirement.
- TransamericacoreRecord-keeping partner. BPI coordinates retirement plan administration with Transamerica as a preferred partner.
- Mass MutualcoreRecord-keeping partner. BPI provides Third Party Administration services alongside Mass Mutual's retirement plan offerings.
Scale indicators3 records
Recent moves5 records
Expansion highlights5 records
Benefit Plans competitors and assessment
Company assessmentDirect peers
- DWC - The 401(k) Experts: Independent third-party administrator specializing in 401(k), 403(b), and defined contribution plan administration for small and mid-sized plan sponsors — directly comparable to BPI in product scope, customer segment, and independent-TPA business model.
- ABG Capital / ABG Retirement Plan Services: Independent retirement plan consulting and third-party administration firm serving small/mid-market plan sponsors — closely comparable to BPI in service mix, customer profile, and advisor-channel GTM.
- Strategic Retirement Partners: Independent TPA and retirement plan consulting firm serving employers and financial advisors — directly competes with BPI in the independent-TPA category with a similar advisor-channel distribution model.
- Third Party Plan Administrators (TPPA): Mid-sized independent third-party administrator providing qualified retirement plan design, testing, and administration services — directly comparable to BPI in service offering and SMB plan sponsor focus.
- Francis Investment Counsel / Retirement Plan Services: Independent firm providing retirement plan administration and consulting to corporate plan sponsors and financial advisors — directly comparable to BPI in independent-TPA positioning and cross-test/ESOP expertise.
Broad incumbents
- Empower Retirement: One of the largest U.S. retirement plan recordkeepers and second-largest TPA, serving plans of all sizes — comparable as a vertically integrated retirement-services incumbent that competes with BPI for the same plan sponsors and also serves as a recordkeeping partner to BPI.
- Fidelity Workplace Investing: National recordkeeper and bundled retirement plan services provider — comparable as a broad incumbent offering recordkeeping plus integrated admin, competing with BPI for mid-sized plan sponsors.
- Schwab Retirement Plan Services: Major recordkeeper offering bundled 401(k) and retirement plan administration for employers — comparable as a broad incumbent in the same customer segment as BPI.
- ADP Retirement Services: National provider of retirement plan services bundled with ADP's payroll and HR platform — comparable as a broad incumbent targeting the same SMB plan-sponsor segment, often through payroll relationships.
Emerging players
- Vestwell: Digital retirement plan recordkeeping and administration platform targeting SMB plan sponsors and advisors — comparable as an emerging tech-enabled player encroaching on the independent-TPA segment BPI serves.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Benefit Plans social profiles
Digital presenceBenefit Plans compliance and trust
Trust signalCompliance1 record
Benefit Plans financial estimates
Financial estimateRevenue estimate
Valuation estimate
Benefit Plans leadership team
Management profileNumber of profiles
Profiles7 records
Benefit Plans funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Benefit Plans M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Benefit Plans
What does Benefit Plans do?
Benefit Plans Inc. (BPI) is an independent Third Party Administrator that provides retirement plan administrative services to plan sponsors (employers) and financial advisors. Its offerings include plan design, eligibility and contribution calculations, annual nondiscrimination testing, plan document services, plan modernization, fiduciary consulting, IRS/DOL audit support, balance-forward administration, and Form 5500 filings for 401(k), profit sharing, Roth, safe harbor, cross-tested, and ESOP plans. Services are delivered via the Relius Administration software platform and coordinated with leading record-keeping partners.
Is Benefit Plans a public or private company?
Benefit Plans is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Benefit Plans founded?
Benefit Plans was founded in 1980. It employs 11 to 50 people.
Where is Benefit Plans based?
Benefit Plans is headquartered in Omaha, United States, in the North America region.
How does Benefit Plans make money?
One revenue line is on record: retirement Plan Administration Services.
Who are Benefit Plans's main competitors?
Direct peers on record are DWC - The 401(k) Experts, ABG Capital / ABG Retirement Plan Services, Strategic Retirement Partners, Third Party Plan Administrators (TPPA) and Francis Investment Counsel / Retirement Plan Services. Broad incumbents are Empower Retirement, Fidelity Workplace Investing, Schwab Retirement Plan Services and ADP Retirement Services. Vestwell is listed as an emerging player.
Does Benefit Plans have an API?
No public API is recorded for Benefit Plans.
What industry is Benefit Plans in?
Benefit Plans's product category is Retirement Plan Administration Services. Its primary akta.pro industry code is BPAAAIAB, Benefits Administration & Enrollment Support, with a secondary code of BPACAPAC, Benefits Administration. Its NAICS code is 524292 and its SIC code is 8700.