Cathy from Chicago

I'm signing up for this (ugh) and was wondering if others on this bbs are also facing the same task of studying? If so, perhaps we could eventually get a question/answer deal going on here? Any thoughts? thanks.

For those of you that are involved in not only admin but also investment product sales, I would appreciate some on ideas on the product/vendor that you use for new plans with only 15-30 or so participants. We have been using a group annuity (with VRU feature)which worked out well but the vendor has recently increased their 'backroom' fees so much that there is no justification in continuing to use them for new plan sales. I would appreciate names of investment firms any of you either use or notice your clients use for smaller plans. thanks in advance.

Not even two weeks ago, I simply asked Dave Baker if there could be a user's board for BlazeSSI. Bingo! Get an e-mail from him, telling me it's up and I'm the moderator! So, welcome to the newest users bbs! I welcome any ideas, sane or otherwise. Thanks, Cathy

Are there any members that use BlazeSSI for their recordkeeping system? If so, anyone interested in starting an unofficial users message board? Thanks.

Over the years we have streamlined our year-end census package so that it now only asks for copies of the W-2's and provides the employee census from the prior year's valuation, so any changes to an employee are simply written in on a blank line. For the majority of our cases we are able to get the year-end investment report from the investment firm so do not have to rely on the client providing such. The streamlining has improved our usual headache in trying to get accurate data. Unlike prior years, we've already received back about twelve packets of completed data! So, guess this means the busy season has begun...

About two years ago, myself and the key person of a 17 yr old admin firm resigned as the owner was making a major change in his affiliation (insurance) and insisting his pension people go with. We did not want to do this, so resigned. Since we were the key people, etc., he ultimately sold us the business and closed the company. Originally he had some ridiculously high price he wanted us to pay and we refused...the files were not worth that much plus the clients could provide us copies if we asked. The bottom line was that we bought 'the files' for only 5% of his original asking price. Granted we were in a great situation, but I think you need to stand tall and not let the old coot wear you down on his stories on how valuable he is, etc. I totally agree with Robin on retaining professionals to determine a value and the last poster (sorry can't remember name) on the avenue to go...non-compete and deferred income. Clients are buying you, the person...anyone can run an annual valuation, prepare 5500's etc. - it's the intangibles such as top notch service, etc. that separate the men from the boys.

thanks, danmar, for answering this for me! This was my first message posted on this board and how nice to get an answer!

In my opinion, you are not being unreasonable at all in insisting you receive answers. The employer can refer all he wants to the TPA being in control of the situation, but the bottom line is that he is responsible. The TPA is merely a contract administrator; he is the plan administrator. As a minimum, you are entitled to the 9/30/99 values. Typically, in today's investment world with daily valuations, etc., once your actual distribution was made, you'd be receiving current values versus those of 9/30 based on your actual participant account. Keep bugging your employer - tell him you're contacting the DOL - that'll get him to respond, trust me. A DOL audit can be worse than an IRS audit and no one wants to subject themself to one esp. if it could be resolved by the employer insisting with the TPA that they answer your questions promptly and to your satisfaction.

I've heard that one can't but would like this confirmed. The IRS Publication that addresses this issue is not available on their website; the Chicago phone number I was referred to that addresses it does not work correctly - it automatically hangs up (perhaps it is working correctly??). Thanks for anticipated assistance.