Most plan screwups happen when either the plan provider doesn\u2019t ask and\/or the plan sponsor doesn\u2019t volunteer. It either involves another plan or another affiliated or similarly owned company. As a plan provider, you could ask and the plan sponsor may not tell. If you don\u2019t ask, the mistake is on you. If you did ask, the plan sponsor will still blame you.<\/p>\n
That\u2019s why when it comes down to them revealing ownership and prior plan, some language on the form (whether online or not), should have an affirmation from the client that the information is complete and accurate. People, including plan sponsors, don\u2019t like to admit when they\u2019re wrong. So CYA and have them affirm everything is accurate, so the blame isn\u2019t assigned to you.<\/p>\n
<\/span><\/p>","protected":false},"excerpt":{"rendered":" Most plan screwups happen when either the plan provider doesn\u2019t ask and\/or the plan sponsor doesn\u2019t volunteer. It either involves another plan or another affiliated or similarly owned company. As a plan provider, you could ask and the plan sponsor … Continue reading