Dougsbpc Posted May 26, 2016 Report Share Posted May 26, 2016 We have a former client who sponsored a 401(k) plan for more than 12 years. They left us for an insurance company about 3 years ago. We received a letter firing us 3 years ago. The plan was always clean so its doubtful that anything is wrong with the plan. A former employee is suing the plan sponsor. As part of that, we received a subpoena for plan all plan records. All 12 years and all records. Question: For all the years we handled the plan, we provided the plan sponsor with excellent very detailed reports and plan documents. Can we bill the client for our time? It will involve a considerable amount of it when we are talking about 12 years of all records. That would be 5 years from when the employee became a participant and 7 years before she became a participant. That plaintiff's attorney mentioned that they already enclosed the $15 check payable to us and that will be all we get. We would not be looking to make money, just cover our costs. Link to comment Share on other sites More sharing options...
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