ExpertPlan Pulling Plug On Website - Thanks Ascensus!

[austin3515]

Do you have plans with ExpertPlan? The website is going dark 1/8th. We're raising a big stink and emailing everyone we know at Ascensus. You should do the same if you have a decent book over there.

Download all of your reports now. I don't know what you're going to be able to do get transaction histories if you're researching deposit differences.

One of the worst decisions Ascensus has made, and there is a lot to choose from.

[Bird]

I thought they shut it down last year...? Only one plan left but I'll check and see if we have what we need; thanks for the heads-up. I'm sure I was told that everything would migrate over but was pretty skeptical about that.

Both of those companies are in the worst...2...for service. I have no idea how Ascensus stays in business other than I suppose sales. I'm fortunate enough to make decisions about who we deal with and the one plan we had was enough to convince me that nothing else goes there, period.

[austin3515]

The Plans all transitioned over. The big issue is going to be transaction history. We wont know what transaction histories we need until we do the deposit recons and figure out whose deposits do not reconcile. So all the TPA's out there need access for the foreseeable future, to say nothing of the auditors (I know an audited plan never should have been there but we had a couple, I'm sure there are dozens). There was a lot of stuff we pulled from the website for the auditors...

[hr for me]

Don't know anything about this specific company but I've been in the business quite a long time and would ask how often you reconcile? We used to do it at least quarterly if not monthly. But that was back in the day where it was mostly paper. I guess with electronic access the business practice of getting written monthly/quarterly statements has gone by the wayside?

[BG5150]

Didn't the transaction history get shifted over to the Ascensus platform? Can't you get your reports from there?

[austin3515]

I couldn't charge enough money to reconcile deposits every month...

The history did NOT transfer over. These were regular plain vanilla conversions.

[austin3515]

Apparently, I am mistaken. For the Plans that stayed with Ascensus, the history did transport over. And for Plans that made the "right" decision to move away, Ascensus will provide the reports needed upon request.

[gkmurthy]

I got into worst problem I  worked as IT consultant contributed sometime back and forgot to check this every time after expert plan moved to new company and now I call them to found out my information not there and I contributed around 2years max amount and that consultant company also closed..not know what to do...need help...earlier its by the name experplan..dont know how these companies are allowed to work....pls help

[gkmurthy]

Is it possible to report this to some controller or to federal authorities, Its huge amount...pls help

[ESOP Guy]

You need to be clearer.  Did you work for a company as an employee or as an independent contractor? 

If an employee then contact the company you worked for and ask them about the 401(k) plan and how you access information about your account.  They should be able to give you that information.  If they refuse to give you that kind of information come back here with what you find out the experts here can help you decide what is the next course of action should be.

If you were an independent contractor then please give us a better idea what kind of plan you set up for yourself. 

As a matter of good manners I would suggest starting a new thread instead of hijacking this thread. 

[gkmurthy]

I just want to say Thanks for this thread who ever contributed, Because when I called my old employer (that company almost defunct) she able to find information but  fully not yet sorted out,  But she did find I contributed , I do not thought these things possible..but it validates who ever put the information as legit...

Thanks for the help and caution raised earlier.

[gkmurthy]

Sorry to post here because I trying to resolve this issue, Long story short I contacted plan Admin ( as this company already closed it very hard to Admin as I contriubuted long time back like 9 to 10 years) Now plan admin (helping me ) calling Ascensus but they still not able to track , My plan admin told I contributed 15k but still they not able to find , This is very confusing why not they Ascensus keep all the files dump when they taken over some company plans, How do i resolve or complain to any govt agency?

Thanks for the help

[401king]

The DOL is the government agency to receive complaints. 

[gkmurthy]

if you have link please post, I trying to keep my options ready in case this not resolved

Thanks in advance

[gkmurthy]

I found this contact, Will call and check on how to go further, It got complicated as  only my plan Admin know i contributed but she said they not have archives as this older than 7 years , I have to check in Form5500 to verify my contributions,  I see this info...pasted below.

U.S. Department of Labor
Employee Benefits Security Administration
Division of Technical Assistance and Inquiries
200 Constitution Avenue, NW, Room N5625
Washington, D.C. 20210
Toll-Free: 1-866-444-EBSA (3272)
Phone: (202) 219-8776

Thanks

 

[401king]

You can check your old W2/tax returns to see how much you deposited. The 5500 won't give you the information you're looking for. 

[gkmurthy]

my issue resolved.. thanks for the help, Plan admin tracked it and closed issue

[ESOP Guy]

Always nice to have a happy ending. 

[carabelli@gmail.com]

Hi Everyone

I know I am soo late to the party, but I need help. ExpertPlan held my Solo 401k (was TPA) until they closed in 2014. My accountant never kept copies of the plan adoption documents or summary. I need to turn this plan now into a regular 401k with employees, but I cannot do it without adoption docs and plan summary. Does anyone know if these documents were saved by Ascensus and how I can find them? Thank you much

VB