It seemed like a good idea at the time, replacing Matt Hutcheson as the fiduciary of an open multiple employer plan (MEP). Within a few weeks including conversations with adopting employers with missing money, I realized that this was a bad idea.<\/p>\n
A large national plan provider recently went into a strategic relationship with a third-party administrator (TPA) with a terrible reputation for excessive termination costs. The problem is that this national plan provider already knew.<\/p>\n
When developing strategic relationships with plan providers, keep your ear to the ground and investigate them and their reputation. I can tell you from experience that working with a retirement plan embezzler wasn\u2019t a good thing.<\/p>\n
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