ESI2015

We recently acquired a small TPA firm - less than 100 clients. Former owner used Datair and we are a Relius group. Relius cannot accommodate a conversion until 4th quarter. Does anyone have experience converting from Datair on their own? They are going to send us instructions but former owner did not use Datair export so we are lacking in support issues. Or, does anyone know of an independent contractor that can be contracted to work on these types of tasks. Looking for suggestions based on past experience. Thank you.

Have any fellow TPA firms found software that will scan brokerage statements for certain items such as contributions, withdrawals, dividends, etc and convert into an excel file for ease of starting the trust accounting process? We have found a significant number of clients recently that are moving back to individual brokerage accounts making the trust accounting much more labor intensive and with room for data entry errors. Looking for any best practice tips from other firms that have found efficiency solutions with brokerage trust accounting.

Thank you everyone. We are in early exploratory stages as well. Tasks we have been told have been automated by other firms include downloading notices and reports from the various platforms and storing/saving them on our internal network in a usable format and in the proper location, generating safe-harbor notices, running reports automatically from our client management system. There are so many basic tasks that appear could be automated and ran over night to where staff arrived in the morning already had part of their tasks started for them. We want to start small but progress as we get comfortable with the process. I appreciate the feedback. NIPA has held sessions on this at various conferences.

Our firm is interested in strategizing on best practices for pursuing robotic process automation into our TPA practice. Do any of your firms currently utilize BOTS and if so, how did you get started? Do you have internal staff who were able to write/program basic bots or did you utilize the services of a different firm/contractor to learn your processes and write these for you? Do you have firms you could point us to that would explain their practices so we can begin pursuing this type of automation in our firm? Any direction you may provide is greatly appreciated as we begin to explore what works and doesn't work and what will be most beneficial for our firm. Thank you!

Has anyone found a good comparative chart that is a resource/tool for comparing the various aspects of MEPs, PEPs, and various group plans that providers might define as an exchange or a MEAP?

Do any practitioners on this message board have a checksheet template you are using when you developed the processes you would put in place each year to help your administrators get acclimated with the steps that would need to be performed on a 457 plan each year from a recordkeeping standpoint- trust accounting, tracking of increased salary reductions in 3 years before NRA, processing and timing of distributions, etc?

Good evening. Do any of you fellow practitioners have suggestions on where to find the best 457 training for new staff? I've looked on ASPPA and NIPA and am not finding training designated towards just non-qualified 457 plans. I would appreciate any suggestions. Thank you.

In July, our team filed Forms 5558 on multiple plans that would need to be extended. However, we had a new one-man plan that we filed Form 5558 for that didn't end up needing to file a Form 5500 because his assets were below $250,000. Client received the acknowledgement letter stating the extension of time was received. Will we receive a notice stating the filing was late? Are we better off to just wait and respond to a notice when one is received or attempt to call the IRS or write a letter in response to the extension letter?

Our client wants to allow for In-Plan Roth conversions regardless of age - does not want to require the participant to be of in-service distribution age for any money source. Can someone provide guidance on how to amend the Relius volume submitter document to allow such provisions?

Would anyone happen to have a calendar of important plan due dates for a 6/30 fiscal plan year end? It's easy to find material to give to a client on due dates for a calendar year end plan but I am not finding off year end information without manually preparing myself. Looking for anything someone might have before I completely reinvent the wheel. Thank you in advance.

Client sponsored a 401k plan and terminated that plan a couple of years ago for various reasons. All participants were properly fully vested and received a complete distribution - with the exception of one. There is one remaining participant that still has plan assets in a brokerage account that have not yet been paid out. Their business situation has changed and they would like to start a new plan. However, even though this plan was terminated, it still exists and they continue to file Form 5500. What are their options? If they finally get this participant paid out, typically they cannot start a new plan for at least 12 months. Is there any possibility of reinstating the existing plan since it has not yet been fully paid out and a final Form 5500 has not yet been filed?

Does anyone have a control group worksheet/spreadsheet they would be willing to share that looks at more than 5 entities ownership at one time? Thank you in advance.

Entity A sponsors a retirement plan. This employer is now part of a control group due to common ownership with Entity B. Entity B is a newly formed entity - not a result of a merger or acquisition. All of the conditions of the grace period are met. However, I am unclear if the grace period only applies to mergers and acquisitions or if it also applies to newly formed entities.

How are your firms structuring your staffing roles? Are you operating with administrators that correspond with their assigned clients and also perform all of the annual valuation work from census scrubbing, to contribution calculations, applicable testing and tax return filings? Or are you structuring your organization with staff assigned solely to client communication and others to day-to-day plan administration functions only? Do you operate with staff that only perform distribution and loan processing functions? What seems to be working best in your organization from a client happiness and overall efficiency process? And if you wouldn't mind sharing the size of your organization or what you have found has or hasn't worked if you have looked into making changes to your overall practice staffing structure.

We have a Money Purchase plan that has terminated. Plan document required 25% contribution but had a last day requirement and client was making contribution deposits periodically throughout the year. Upon working through the plan valuation, it was determined that the client deposited excess contributions due to the last day requirement of terminated employees. The plan has now terminated. How do we handle the excess contributions? Do they revert back to the employer and if so, what is the reversion penalty or a citation for where I can research such topics? I am having trouble finding guidance related to MPP operational defects since this type of plan is not as frequently found any longer.