Failed to follow participant direction

[Guest ERead]

I had a similar situation arise with a bundled product when I was working in a TPA firm. The period of time was aroun 13 months, and we forced the changes to be corrected at the source of the problem. The company that errored - my firm made up the difference in the earnings, and reduced the clients fees for the following year by that amount, as we were not able to fund the plan from our accounts.

I think you will need to retroactively fix the situation, especially in light of the fact that "writen notice" was given.

Keep us posted on the outcome and good luck

Happy New Year

[LCARUSI]

Bill -

Take a look at another topic on this message board:

"How Long is to Long"

It discusses a related issue.

[Guest Bill]

Participant directed certain investment shifts in writing in July '97 requesting 90% to fund A and 10% to fund B but trades desk did them wrong. Participant has received quarterly statements since, first one after the shift would have been in October '97. NOW is saying that she just noticed the mistake and wants it corrected retroactively. We say 18 months is not reasonable. Anyone have any experience and references to what is a reasonable date to go back to and what to tell this participant?