How does QPC reconcile assets and loans for “takeover” plans?
A. QPC consultants work closely with the plan sponsor and their previous provider(s) in coordinating the entire transfer process. They help determine the most appropriate date to liquidate and wire transfer plan assets to the new investment company. They prepare sample liquidation letters for the client, and the required “Blackout Notice” for distribution to plan participants. Once assets have been transferred, the consultant obtains final statements from the prior investment company and prepares a spreadsheet with the detailed transfer data for upload into the records at the new investment company. Every dollar must be accounted for. For transfer loans, existing amortization schedules must be obtained and new paperwork completed in order to set up loans.
