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I have never dismissed a client  - I am lost as to how to commit this to writing.  I took over a DB plan I never should have, I should have known from my conversations with, and then an in-person meeting, this guy was totally clueless as to what plans he had - but always expected someone else to do the job.

I'm sure a few TPAs have fired clients - any "sample" wording?  The only thing I can think of would be totally unprofessional unprofessional, but ha been a total waste of my time.

TX.

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Avoid the word "fire".  Use the word "resign".  Be polite and direct.  If there is any work in progress, make sure you address it.


 

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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Exactly, refer to service agreement, stating that in accordance with whatever section(s) or paragraph(s) thereof you are providing the required notice that you are terminating or resigning from the engagement (again, whatever wording your SA used) effective a specific date. If you have any outstanding deliverables for which you've been contracted and paid, or if there are any outstanding invoices for work already delivered, you can address those situations as well. You need not state a reason, but could say "we have made a business decision..." or something to that effect as the lead in. You never like to do it but sometimes it is better to cut and run. Good luck.

Kenneth M. Prell, CEBS, ERPA

Vice President, BPAS Actuarial & Pension Services

kprell@bpas.com

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On 9/6/2022 at 4:37 PM, CuseFan said:

You need not state a reason,

Completely agree with CuseFan's response. And we don't state a reason (other than referring to the contractual resignation provision)  - it can only lead to trouble, IMHO. 

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  • 2 weeks later...

Only had to do it once, cited the reasoning (unpaid bills, didn't provide census info to complete the work), then 

 

I regret to inform you that, effective immediately, I will be resigning as the actuary for the Plans listed above and will no longer provide any services related to the Plans.

 

You should be aware that there are actions associated with your Plans that have upcoming deadlines. We will not be responsible for any missed deadlines or for work requested after the date of this letter.

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