They still want to skimp when the plan is in so much trouble

I’ll get the referral from and advisor or third party administrator (TPA) with the plan that hasn’t been restated for 15 years and haven’t filed for a 5500 in just as long. They introduce me to the potential client, I offer them my help, and then crickets.

Even when presented with possible plan disqualification and 5500 penalties that can be thousands of dollars a day, I hear nothing. They’re looking for the one provider who suggests they can terminate the plan or merge into a new plan, to cover the “dead bodies.” Even with all their issues, they still think they can skimp.

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