My Benefits

What My Benefits does

My Benefits, LLC is a privately held third-party retirement plan administrator headquartered in Atlanta, Georgia, with team members distributed across the Sun Belt states of Alabama, Florida, Georgia, South Carolina, and Texas. The firm provides comprehensive administration services for qualified retirement plans including 401(k), 403(b), 401(k) Cash Balance Combo, Defined Benefit/Cash Balance, and 401(k) with Profit Sharing arrangements. It serves three customer segments: financial advisors who use My Benefits as a TPA partner, plan sponsors seeking administrative and fiduciary support, and participants requiring account access and distribution services.

The company's core platform combines traditional third-party administration with a technology-enabled payroll integration layer. Its wholly owned subsidiary, First Party Administrator, LLC, acts as the named ERISA 3(16) Plan Administrator, serving as the plan's administrative fiduciary and directly relieving plan sponsors of administrative burdens. My Benefits also operates a Dynamis-powered payroll API integration service connecting with ten major payroll providers — ADP, Paylocity, Paycor, Gusto, Insperity, Paychex, Paycom, QuickBooks, Rippling, and UKG — to automate census data collection through annual and monthly pulls. For participants, the firm provides account access through integrations with multiple investment providers including ADP, Fidelity, John Hancock, Lincoln Financial, MassMutual, Nationwide, Principal, T. Rowe Price, Vanguard, and others.

My Benefits generates revenue through recurring subscription-style fees for third-party administration and ERISA 3(16) fiduciary services, billed annually on a quote-based pricing model tailored to plan type, employee count, and service requirements. The company operates with an 11-50 employee team led by Managing Partner John Starr (30+ years of retirement industry experience across Ernst & Young, Wachovia, RBC Centura, Merrill Lynch, Fidelity, and John Hancock), Director of National Sales and Marketing/COO Tim Kvam (~20 years, prior at John Hancock), and Director of Operations/SVP Mary Beth O'Brien (30+ years, prior at Regions Bank and Federated Investors). Distribution relies on direct enterprise sales to plan sponsors and channel partnerships with financial advisors, supported by the Mary Beth's Corner blog, LinkedIn and Twitter presence, and an online proposal request workflow.

Name

My Benefits

Legal name

My Benefits, LLC

Website

https://mybenefits.me

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

My Benefits is a privately held third-party retirement plan administrator serving financial advisors, plan sponsors, and participants across the Sun Belt. It delivers TPA services, ERISA 3(16) fiduciary administration through subsidiary First Party Administrator LLC, and payroll API integration.

Ownership category

akta.pro rank

Product category

Retirement Plan Administration

NAICS

Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Employee Benefit & Retirement Plan Trust Services (FSAAANAC)

akta.pro secondary industry

Retirement Plan Participant Advice & Managed Accounts (FSAEABAF)

Keywords

• Retirement plan administration
• Third party administration
• ERISA compliance services
• 401(k) plan services
• Pension plan consulting

Headquarters

HQ city

Atlanta

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Third Party Administration Services: My Benefits provides third-party administration services for retirement plans, including plan compliance testing, Form 5500 preparation and filing, and participant communication services. Revenue is generated through fees for administrative services provided to plan sponsors.
2. ERISA 3(16) Plan Administrator Services: Through their wholly owned company First Party Administrator LLC, My Benefits acts as the named ERISA 3(16) Plan Administrator, providing fiduciary services and relieving plan sponsors of administrative burdens. This is a dedicated service offering generating recurring administrative fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

My Benefits is a third-party administrator that provides retirement plan administration and consulting services to financial advisors, plan sponsors, and participants. Through its wholly owned subsidiary First Party Administrator, LLC, it also acts as the named ERISA 3(16) Plan Administrator, taking on administrative fiduciary responsibility for plan sponsors of 401(k), 403(b), Cash Balance, Defined Benefit, and 401(k) with Profit Sharing plans.

Product overview

My Benefits operates as a third-party retirement plan administrator offering a unified portfolio of services centered on its core TPA (Third Party Administration) platform. The core offering is complemented by its wholly owned subsidiary First Party Administrator, LLC, which provides ERISA 3(16) Plan Administrator fiduciary services. The company also offers a Payroll API Integration service for automated census data collection. For participants, the company provides account access through integrations with multiple investment providers including ADP, Fidelity, John Hancock, Lincoln Financial, MassMutual, Nationwide, Principal, T. Rowe Price, Vanguard, and others.

Differentiator

Problem solved

Functional benefit

Products and services

• Third Party Administration (TPA) Services
• First Party Administrator, LLC (ERISA 3(16) Plan Administration)
• Payroll API Integration Service

Quantifiable outcome

• Shift retirement plan risk, responsibility and burden from plan sponsor organization to My Benefits

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature2 records

Partnerships

Eleven partnerships are on record, tiered core.

• ADPcoreTechnology or IntegrationMy Benefits integrates with ADP payroll systems via API to automate census data collection and payroll reconciliation for retirement plan administration.
• PaylocitycoreTechnology or IntegrationAPI integration with Paylocity payroll platform enabling seamless data exchange for annual and monthly payroll pulls supporting retirement plan compliance.
• PaycorcoreTechnology or IntegrationIntegration partnership with Paycor providing automated payroll data connections for retirement plan census data and administrative processes.
• GustocoreTechnology or IntegrationAPI integration with Gusto payroll system to streamline data collection and reconciliation for retirement plan administration clients.
• InsperitycoreTechnology or IntegrationIntegration with Insperity payroll platform supporting automated census data collection and payroll reconciliation services.
• PaychexcoreTechnology or IntegrationAPI integration with Paychex payroll system enabling seamless data exchange for retirement plan administration and compliance.
• PaycomcoreTechnology or IntegrationPartnership with Paycom for payroll data integration supporting annual and monthly census data pulls for retirement plan administration.
• QuickbookscoreTechnology or IntegrationIntegration with Quickbooks payroll enabling data connectivity for retirement plan administration and employee census reconciliation.
• RipplingcoreTechnology or IntegrationAPI integration with Rippling platform supporting automated payroll data collection and reconciliation for retirement plan services.
• UKGcoreTechnology or IntegrationIntegration partnership with UKG (Ultimate Kronos Group) payroll systems enabling comprehensive data connectivity for retirement plan administration.
• DynamiscoreTechnology or IntegrationMy Benefits uses Dynamis-powered service for secure payroll integration, providing advanced security layers and simplified annual submissions for payroll data.

Scale indicators1 record

Recent moves7 records

Expansion highlights2 records

Broad incumbents

• Empower Retirement: One of the largest U.S. retirement plan recordkeepers and third-party administrators (formed by the merger of Empower and Prudential Retirement). Competes with My Benefits for mid-market plan sponsor and advisor accounts, but operates at vastly greater scale with bundled recordkeeping, investments, and TPA services.
• Fidelity Workplace Investing: Fidelity's retirement plan services division provides full-service plan administration, recordkeeping, and ERISA fiduciary support across all plan types — directly comparable to My Benefits' TPA and 3(16) offerings but at national scale and bundled with Fidelity's investment platform.
• Schwab Retirement Plan Services: Charles Schwab's retirement plan business offers bundled TPA, recordkeeping, and advisor support for 401(k), 403(b), and defined benefit plans. Targets the same mid-market plan sponsor and advisor channel that My Benefits serves, but with substantially broader product and geographic reach.
• Principal Financial Group: Principal's retirement division offers full-service plan administration, compliance testing, Form 5500 filing, and ERISA fiduciary services across defined contribution and defined benefit plans, with deep relationships among plan advisors and mid-market employers comparable to My Benefits' target customer.
• John Hancock Retirement Plan Services: John Hancock provides 401(k), 403(b), and defined benefit plan administration, recordkeeping, and advisor support. It is directly comparable to My Benefits in product scope (TPA + 3(16)-style fiduciary services), and notably served as a former employer of multiple My Benefits senior leaders.
• Vanguard Retirement Plan Services: Vanguard offers low-cost recordkeeping and third-party administration for employer-sponsored retirement plans, competing for the same advisor-distributed plan sponsor relationships that My Benefits targets, particularly with plan sponsors seeking low-cost index-based investments.
• T. Rowe Price Retirement Plan Services: T. Rowe Price administers defined contribution plans and offers full-service plan administration services including compliance testing and Form 5500 preparation. Comparable to My Benefits in serving advisor-led plan sponsor relationships but at substantially greater scale.
• Lincoln Financial Group Retirement Plan Services: Lincoln Financial provides comprehensive 401(k), 403(b), and defined benefit plan administration, recordkeeping, and ERISA fiduciary support. Similar product scope and advisor-channel distribution model to My Benefits but with national scale and a broader investment platform.
• ADP Retirement Services: ADP bundles retirement plan administration with its dominant payroll platform, including compliance testing and Form 5500 filing. Directly comparable to My Benefits in the TPA function and competes heavily for the same small/mid-market employer segment that uses ADP as their payroll provider.

Direct peers

• Pentegra Retirement Services: Pentegra is a mid-size, independent retirement plan administrator offering full-service TPA, 3(21) and 3(38) fiduciary services, and 3(16) plan administration. Most directly comparable to My Benefits in scale, service scope, and target customer (financial advisors and mid-market plan sponsors), making it a meaningful direct peer for benchmarking.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/MyBenefits_FPA
• LinkedInlinkedin.com/company/my-benefits-llc-&-first-party-administrator-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about My Benefits