NAPA Net - Polling Places 042420

"Stay" in Place?

A reader comments that he heard from an ERISA attorney on a recent webinar cautioning that all recordkeeping conversions should be halted for the present – ditto fund changes. This week, we’d like to know what actions, if any, you’ve taken regarding pending conversions.

Question Title

* 1. Did you have any account(s) scheduled for a recordkeeping conversion in Q2?

Yes, and they're still on schedule.

Yes, but we've moved that back.

Yes, but we might have to move it back.

No.

Question Title

* 2. if so, in the most recent case, who made that call?

The recordkeeper/TPA.

The plan sponsor/committee.

The advisor.

The plan's legal counsel.

It was a joint decision.

No call necessary, as there was nothing scheduled

Any comments on that process/decision?

Question Title

* 3. Did you have any fund switches scheduled for Q2?

Yes, and they're still on schedule.

Yes, but we've moved that back.

Yes, but we might have to move it back.

No.

Question Title

* 4. Realizing that individual situations might be influenced differently, generally speaking how, if at all, might recent developments impact that fund switch?

Will likely postpone it further.

Will likely consider more conservative options/approach.

Will likely consider more aggressive options/approach.

Probably won't make any difference in our choice(es).

Not sure yet.

Any comments about the impact?

Question Title

* 5. Other comments about the coronavirus, the CARES Act, the response(s) to the CARES Act, communication(s) about the CARES Act, questions about the CARES Act, or life in general?

Question Title

* 6. What is your role working with retirement plans?

Advisor

Provider

TPA

Plan sponsor

Recordkeeper

Other (please specify)

Question Title

* 7. What size plans do you PRIMARILY work with?

Under $10 million in assets

$10-$20 million

$20-$50 million

$50-100 million

$100 million - $250 million

$250 million - $500 million

Above $500 million

Other (please specify)

Question Title

* 8. Suggestions for future survey questions? Seriously - what would you like to know about/from your fellow NAPA-Net readers? Or what would you like to be asked?

Question Title

* 9. All responses are confidential, of course - but just in case you would like a response - or want me to know you responded - or just want to say hi - here's your chance to do so (don't forget your email)!