John O'Reilly July 12, 2026 401(k) Your Recordkeeper Isn't Your TPA, Even If They Act Like It John O'Reilly July 12, 2026 401(k) “One provider, one platform” sounds cleaner and cheaper — until your recordkeeper’s processing engine meets a plan that isn’t standard. Processing isn’t oversight, and the sponsor owns the result. Ary Rosenbaum, Esq. on why recordkeeper isn’t TPA.