new TPA for Money Purchase plan

[M Norton]

Vanguard has been administering a money purchase plan for one of our clients. Client got a notice from Vanguard that they aren't doing small plans any more and referred them to a company called ExpertPlan.

Does anyone have experience working with ExpertPlan or know anything about them?

Thanks!

[Gadgetfreak]

Vanguard has been administering a money purchase plan for one of our clients. Client got a notice from Vanguard that they aren't doing small plans any more and referred them to a company called ExpertPlan.

Does anyone have experience working with ExpertPlan or know anything about them?

Thanks!

I have used ExpertPlan in the past. They are good as a recordkeeper if you don't need any special "outside the box" setup. As I am a TPA, I have never used them or heard anything about them as a TPA. If you are looking for a TPA/Recordkeeper that offers more customization, look at www.rpgny.com.

[K2retire]

I also have a Vanguard MPPP (personally). I was told that they are eliminating MPPPs, not small plans. They said I could restate to a PS or 401(k) plan (amusing since I asked to do that at the GUST restatement and was told it was not legal) but that they would not permit the MPPP money to be rolled into the new plan.

FWIW, the only thing they ever did for the plan was provide a document. Fortunately I knew that I needed to file a 5500EZ when the assets reached $100,000 because they never mentioned it. I am not complaining, because there was no charge to set up or maintain the plan. But now that I'm in this business, I have to wonder how many plans they have that are out of compliance due to neglect!

[Peter Gulia]

M Norton, call Joe Cucchiaro, the operations chief at ExpertPlan; he's the real thing.

[Peter Gulia]

M Norton, call Joe Cucchiaro, the operations chief at ExpertPlan; he's the real thing.

[John Feldt ERPA CPC QPA]

We've got about 100 or so small plans on Expertplan, and it's worked very well.