conversion screw-up

[PensionNewbee]

This is a takeover plan, with an after-tax source, as well as a related rollover source (old DB $).

at the previous provider, the assets were rolled into a new investment product without preserving the separate sources - now, instead of deferral, profit sharing, rollover and after tax, there are two sources - employee and employer. In order to properly account for the assets, the sources should be split out, but the rollover to the new investment product happened about 2, maybe three years ago and when the assets were converted to the new provider, a participant (also the CEO) noticed that something was wrong with his account.

Any suggestions?

[Guest jhilliard]

Is it too late to back out of the take-over? If not drop 10 and punt!

[Blinky the 3-eyed Fish]

Many times takeovers are the best opportunity to highlight your firm in comparision with others. If at all possible, go back and recreate the splits amongst sources. Also, if any payouts were done, those should be reinvestigated. For the extra time you spend, then client should consider getting payment from the prior TPA.

Now if it's impossible to recreate the sources, then I would take jhilliard's suggestion.

[JanetM]

If you can possible get the old data and recreate I would. Had to do that a couple of time when I was TPA.

The burning question I have is on the DB $$, was that voluntary rollover to plan? If so it doesn't keep any special J&S features. If it was due to plan merger it should have kept all J&S features.

This is messy situation. Wonder why participant (CEO) didn't say anything. That my prevent company from getting some kind of fee back from prior TPA.