Guest GMP Posted July 30, 2009 Posted July 30, 2009 Our office has been very reluctant to increase what it charges for administration post-PPA. It would be helpful to me for future discussions if any people in other offices would share with me what they are billing, relatively, for their PPA administration. After PPA how much did you increase your annual administration charges for plans with 1, 10, 100, and 500 lives? Thanks.
david rigby Posted July 30, 2009 Posted July 30, 2009 Nope. We don't use these Boards for sharing such information. Two reasons: - anti-trust concerns (ie, "price-fixing"), - why give information to your competition? I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
Andy the Actuary Posted July 30, 2009 Posted July 30, 2009 Agree with David. My fees are very proprietary -- Even my clients are given blank invoices. You may or may not realize that when the IRS increased the JBEA Enrolled Actuaries renewal application fee from $25 to $250, one of their supporting comments was that the increase should be more than offset by the additional work generated by PPA. The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.
Andy the Actuary Posted August 3, 2009 Posted August 3, 2009 Tell me one person that wants to pay more for PPA. Little Melvin Cowsnowski who is a lifeguard in a local carwash. As a boy, Melvin's mother took him to the local confectionary. Melvin ask the confectioner how much the candy sitting in the jars was. The confectioner replied, "You can have all you want for a nickel." Melvin plopped down a dime on the counter and asked, "In that case, how much will this dime buy?" The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.
SoCalActuary Posted August 3, 2009 Posted August 3, 2009 Tell me one person that wants to pay more for PPA. Little Melvin Cowsnowski who is a lifeguard in a local carwash. As a boy, Melvin's mother took him to the local confectionary. Melvin ask the confectioner how much the candy sitting in the jars was. The confectioner replied, "You can have all you want for a nickel." Melvin plopped down a dime on the counter and asked, "In that case, how much will this dime buy?" Well, if you aren't going on vacation, at least you found a sense of humor. Lifeguard... good line!
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