National Administration, Inc. (NAI)

Here at NAI, we take these concerns and complaints very seriouslyWe pride ourselves on the quality of service we provideOther TPA's in the industry shoot for a 92% - 94% retention ratio; which is excellent for the industryI'm proud to boast that our current retention ratio is 97% - 98%
(and most of those are companies that shut down their retirement plan for various reasons) This client came to NAI in November of and has been rather difficult with our office from the beginningAfter implementing this retirement plan with NAI, we discovered that they also maintain another retirement planWhile this is allowed, but there are rules in place that the plans be established a specific way and need to be tested togetherWhile attempting to do our year end testing, they would not provide all the information requested and provided constant resistance throughoutOur office needs information from the client in order to assist them to stay compliant with the IRS/DOL regulationsWe cannot provide the plan year end compliance testing and DOL Form 5500's without getting this crucial informationOur office was the one to ask why they have plans in place and that they didn't need toThat's where the conversation first started to terminate one of the two plansThe NAI Service Agreement contract they signed clearly states that we may charge them a termination fee of $We don't do this as a penalty for leaving our services, but it is done to cover the work it takes to provide information to a new provider, remove them from all our systems, and final ize any last few itemsWe have a page list of all the items that we need to take care of when a plan leavesWhen working on the Plan Year End, the client demanded information back after supplying it days earlierDue to the difficulty of this client and after berating our staff enough, when they notified us of their intention to leave, we offered them the option to leave prior to the end of and we would not charge the termination feeThey instead elected to have us complete the year end work (which has been completed) and are requesting for us to complete the final workPlease note, plan termination fees are standard in the industry due to the work involved in closing down a planOf independent TPA firms, our plan termination fees are well below the average other firms charge.
At this point, I will offer the client options:
1) Pay the current $outstanding invoice ($for plus $Termination fee) and we will complete the final return; or
2) Pay nothing and they are free to have another firm complete their final return Please let us know should you require further explanation of these mattersI look forward to your response to thisSincerely,
*** ***
President

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
The response from NAI's president was a reiteration of basis for BYCO's complaint.  There was no solution offered, only an inaccurate account of our business dealings.
Regards,
[redacted]

I have offered a couple of
different options to get this matter resolved. 
Neither was acceptable to Mr. [redacted]. 
He has requested to have our fees lowered or waived – I am sorry, but
that is not an option.  
The last correspondence by Mr.
[redacted] indicated he wished to know the vague definition defined in the service
agreement pertaining to the “may” charge a termination fee.  To clarify that portion, the proposal
indicated that there would be no charge for a service term if the plan stayed
with NAI for at least 5 years.  We also
indicated that we would not charge the $500 termination fee if they left before
the end of the year and had their new service provider take care of 2014 year
end work (we would have considered what they paid already in 2014 as enough to
cover the $500 termination fee).  Thus,
we have the “may” clause in the service agreement to cover the instances of
when the fee may be applied.
The decision of what to do
from here is entirely up to Mr. [redacted]. 
He can work with whomever he wants to finish that year, but our fee
stands firm.           
Sincerely,
[redacted]
President

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
Mr. [redacted] response is a complete fabrication.  NAI provided substandard service laden with fine print fees for the year in which it served as BYCO's TPA.  Knowing this, BYCO made every effort to ensure there would be no ambiguity during the plan termination.  Included in the original complaint is documentation of the steps BYCO took to ensure a clear fee structure throughout the plan termination.  It was only after the termination had been completed that the $500 fee was assessed and the termination date was used as a criteria for its assessment. 
Regards,
[redacted], Byco Inc