SSRRS Posted November 1, 2019 Share Posted November 1, 2019 Thank you in advance for any help in this matter. Client with DB floor offset plan left and went to new firm. The new firm is asking for written explanation of how the offset calculation (ie accrued benefits after offset was determined). Question: How much work and time are we required to spend in explaining how the plan was administered. 2. Can there be a charge for our time etc. in putting together this information? Thank you. Link to comment Share on other sites More sharing options...
C. B. Zeller Posted November 1, 2019 Share Posted November 1, 2019 AAA code of conduct (which is incorporated by reference in the ARA code of conduct), Annotation 10-5: Quote When a Principal has given consent for a new or additional actuary to consult with an Actuary with respect to a matter for which the Actuary is providing or has provided Actuarial Services, the Actuary shall cooperate in furnishing relevant information, subject to receiving reasonable compensation for the work required to assemble and transmit pertinent data and documents. Free advice is worth what you paid for it. Do not rely on the information provided in this post for any purpose, including (but not limited to): tax planning, compliance with ERISA or the IRC, investing or other forms of fortune-telling, bird identification, relationship advice, or spiritual guidance. Corey B. Zeller, MSEA, CPC, QPA, QKA Preferred Pension Planning Corp.corey@pppc.co Link to comment Share on other sites More sharing options...
SSRRS Posted November 1, 2019 Author Share Posted November 1, 2019 C.B. Zeller, thank you very much for your quick and efficient help and knowledge on the matter. Link to comment Share on other sites More sharing options...
Ilene Ferenczy Posted November 8, 2019 Share Posted November 8, 2019 FWIW, you might want to augment your service agreement to add a provision outlining that there will be a charge for such a service, that it must be paid in advance, and the amount of that charge. That way, the client cannot claim surprise when you ask for the money. Link to comment Share on other sites More sharing options...
SSRRS Posted November 12, 2019 Author Share Posted November 12, 2019 thank you very much Link to comment Share on other sites More sharing options...
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