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Description

This company offers full service 401(K) administration and payroll processing for small businesses nationwide.


BBB Accreditation

A BBB Accredited Business since

BBB has determined that Plan Administrators, Inc. meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.


Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that raised the rating for Plan Administrators, Inc. include:

  • Length of time business has been operating
  • Complaint volume filed with BBB for business of this size
  • Response to 5 complaint(s) filed against business
  • Resolution of complaint(s) filed against business


Customer Complaints Summary Read complaint details

5 complaints closed with BBB in last 3 years | 1 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 1
Billing/Collection Issues 0
Delivery Issues 0
Guarantee/Warranty Issues 0
Problems with Product/Service 4
Total Closed Complaints 5

Customer Reviews Summary Read customer reviews

3 Customer Reviews on Plan Administrators, Inc.
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 3
Total Customer Reviews 3

Additional Information

BBB file opened: May 23, 2003 Business started: 01/01/1983 in WI Business started locally: 01/01/1983 Business incorporated 10/25/1985 in WI
Type of Entity

Corporation

Business Management
Mr. Michael P. Kiley, President Mr. Rob Bishop, Assoc. Business Development Ms. Barb Thompson, Voice of the Customer Leader
Contact Information
Principal: Mr. Michael P. Kiley, President
Customer Contact: Ms. Barb Thompson, Voice of the Customer Leader
Business Category

Financial Services Payroll Service Employee Benefit Plans Retirement Planning Service Miscellaneous Financial Investment Activities (NAICS: 523999)

Hours of Operation
Monday-Friday 8:00 A.M. to 5:00 P.M.
Alternate Business Names
PAi
Industry Tips
Advanced Fee Loans Avoiding Fraudulent Tax Preparation Counterfeit Currency Credit Card Accountability, Responsibility and Disclosure (CARD) Act Credit-Budgeting Made Easy

Customer Review Rating plus BBB Rating Summary

Plan Administrators, Inc. has received 0 out of 5 stars based on 0 Customer Reviews and a BBB Rating of A+.

BBB Customer Review Rating plus BBB Rating Overview

Additional Locations

  • 1300 Enterprise Dr

    De Pere, WI 54115 (920) 337-9906 (800) 236-7400

  • PO Box 60

    De Pere, WI 54115

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BBB Customer Review Rating plus BBB Rating Overview


BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.
Details

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.

Complaint Detail(s)

9/16/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: My 401k distribution was sent to another financial institution without proper identification and had to be returned to PAi. Either PAi didn't follow their procedures or the procedures aren't adequate because this caused a 1 week delay transferring my 401k funds. On top of it I had to pay fees to stop the first check, reissue a second check, and pay to expedite delivery.

Desired Settlement: Due to the poor cus***er service which resulted in a 1 week delay in transferring my funds, the custodial, recording keeping, and distributions fees should also be dropped.

Business Response:

Upon receipt of the complaint from Mr. ****, PAi immediately completed a review of the events which had transpired during the processing of the requested distribution.  Within the review, we determined that PAi did not supply the identifying information provided by Mr. **** to the financial institution receiving his check. 

A member of PAi’s Voice of the Cus***er team contacted Mr. **** to discuss his concerns, and apologize for our error and subsequent handling of the situation.  We agree that the stop pay, reissue and expedite fees should not have been charged in this case.  Those fees, as well as the initial distribution fee will be refunded.  PAi and Mr. **** have agreed that the custodial and record keeping fees will not be refunded.

PAi appreciates the feedback, as well as the opportunity to review and improve our services in the future.

Consumer Response: [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 

Regards,

*** ****

4/6/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: PAi is a retirement plan administrator. I was self-employed, and PAi offered a 401(k) plan for single employers/employees. I recently decided to rollover my PAi account to a bank where I live, *********** ****. This was communicated by telephone on March 12, 2015, while I was in the offices of ***** ***** ****. Shortly thereafter I received the following e-mail: "****, Per our discussion, I have attached the plan termination notice document for the **** * ****** 401(k) P/S Plan. Once the document is completed it can be sent to our office either via fax to ###-###-#### or email to planservice@pai.com. If you have any questions or need assistance, please contact us at ###-###-####, Option 2, between the hours of 8:00 a.m. and 5:00 p.m. Central Time or via email at planservice@pai.com. Thank You, ****** ************ Customer Care Consultant PAi **** ********** *** ** ***** ** *****" I received the plan termination, single-page document shortly thereafter that same day. I then sent Ms. ************ an e-mail asking where the package was that she said I would receive during the conversation when I was at the bank. She replied by e-mail that same say: "The paperwork is the initial letter of intent to terminate. Once our office receives that request, we will send you the full termination package, along with an invoice and how the fees can be paid." The next day I sent Ms. ************ another e-mail: "We filled out and signed the form and faxed it back last night. Why are you not sending me the "package?" She replied: "A plan termination goes through a process and the first step is you sending in the letter of intent. From that point, you will work directly with our Deconversion department that will provide you the package." On March 13, I sent another e-mail to Ms. ************ reiterating that she told me I would receive the full termination package "once [her] office receives the initial letter of intent" and asking for the package. On March 16, I sent her another e-mail stating that I was still waiting for the package. On March 17, Ms. ************ sent me another e-mail: "I have forwarded your request to our Deconversion department to assist further with your inquiry on the termination package and timing." I replied asking her to give me a name or telephone number to contact the "Deconversion" department. She sent me an e-mail address but no telephone number or name to contact the Deconversion department. On March 17, I sent an e-mail to the Deconversion department asking when I could expect the package. On March 18, I sent a "Second Request" e-mail to the Deconversion department. On March 19, I sent a Third Request. I finally got a response about a half-hour ago. It informed me that the termination date I had chosen (March 13, the day after the initial document was signed and faxed back to PAI) was considered backdated, so I would have to send another form with a longer (farther) date, before they would process my request. I called the number on the e-mail and left a message, indicating that no one had advised me about what date to choose; telling the individual who sent the e-mail that I would file a complaint with the BBB in Milwaukee, if I did not hear back by 4:00 EDT. I have not heard back, so here's my complaint. Thank you.

Desired Settlement: I want my account at PAi to be rolledover to my IRA at Fifth Third Bank and I want added to the amount interest at 4%. I also want a written apology and the assurance that PAi will not treat other account holders with unnecessary delays. I consider this an unnecessary delay, because I was not told the whole process when I first contacted PAi; I was not given a meaningful timeframe to expect the rollover; and I consider the most recent e-mail about not choosing a different date to terminate my account PAi's fault causing additional delays.

Business Response:

PAi has been a provider of full-service 401(k) administration for more than 30 years.  PAi takes pride in our customer service, and as such strives to reply to customer inquiries on a timely basis.

Mr. ****** first contacted PAi on March 12, 2015, with a request to terminate his plan. On March 19, 2015, Mr. ****** posted a complaint regarding his experience with PAi on the BBB website. Upon learning of Mr. ******’s concerns, a member of PAi’s Voice of the Customer team promptly contacted Mr. ******, and completed a review of the events leading up to the complaint.  PAi apologized to Mr. ****** for the delay in response to some of his emails, and acknowledged that the plan termination process and timing should have been more clearly explained to him upon his initial inquiry.  PAi also provided Mr. ****** with the information and materials needed, and will continue to work directly with Mr. ****** to facilitate the completion of his plan termination.   PAi and Mr. ****** have agreed that there will be no payment of interest.

PAi appreciates the feedback, as well as the opportunity to improve our services in the future.

10/17/2014 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I have been trying to roll over my funds being held and administered by PAi for more than a year. PAi has been unwilling to distribute these funds and will not allow me access to anyone beyond the customer service department to resolve this issue. I have requested to speak with members of their compliance team and management on numerous occasions but have been given the run around each time. PAi claims that since I was previously an employer representative on the account I am not entitled to distribution of funds. They base this claim on an unwritten and un-communicated company policy rather than executed operating agreements by the parties involved. They acknowledge that I have been replaced as the fiduciary on the account. They no longer send plan correspondence to my attention. They have terminated my access to the company section of the 401k website. However, they claim that in order to receive my distribution the company must assign someone with assets in the plan as the new fiduciary or close the plan. Each of these actions require the plan participants to pay hefty fees. All while creating a stall tactic to hold hostage the largest account in the plan. But A) they have never made this request to the company and B) this is not my issue. I am no longer with the company and do not have the authority to institute the modifications they claim to require. They have no legal basis for the requirement. PAi acknowledges there is nothing in the plan documents or operating agreement that supports any claim that A) a fiduciary cannot resign from the plan without having their assets frozen, B) a fiduciary is required to have assets in the plan to administer on behalf of the company and the employees and C) that a plan must terminate for a fiduciary or ex-fiduciary to rollover their assets. The plan has changed fiduciaries in the past. Prior fiduciaries have withdrawn assets from the plan. This is an ever rising fee based plan and PAi is acting solely in its best interest in an effort to maximize the fees by holding the assets of the plan hostage while attempting to extort absorbent change fees or termination fees from the plan participants. They do this without authority of an executed operating agreement but instead hide behind company policy all the while restricting access to those who supposedly implanted said policy. Anyone with assets being managed by PAi is in danger of having this company arbitrarily and unilaterally hold those assets hostage from their rightful owner and needs to be made aware of these unethical and unlawful business practices.

Desired Settlement: I want PAi to rollover my funds they have been holding hostage for the past year.

Business Response:

Mr. ***** ****** is listed as a fiduciary (Trustee) on Consortium Companies, Inc.’s 401(k) plan.  Mr. ***** ****** is also listed as an owner of Consortium Companies.  He has disagreed, stating that he is no longer a Trustee on the plan or an owner; however, he cannot remove himself as the Trustee and no one else from his company has supported that change of information with us and PAi never received any new information on owners or a buyout of the company. Therefore, for the sake of the company, Mr. ***** ****** is still a fiduciary (Trustee) on Consortium Companies, Inc.’s 401(k) plan.

At the time Mr. ***** ****** sent in a distribution request form, he was (and still is) the only fiduciary remaining on the 401k plan that has assets in his account. It is PAi policy to not allow a fiduciary to distribute their assets and leave the remaining participants unattended.  Our experience, history and work with hundreds of other cases such as this have lead us to this policy; it’s the way we do business in order to protect the participants in plans. ***** ****** has asked for documentation of where this policy has been communicated to plans. There is no published guidance.  This is internal PAi policy of which our owner, Michael Kiley, supports because it is in line with the spirit of the Department of Labor since it looks out for participants and holds plan sponsors accountable for their fiduciary duty. We acknowledge the absence of written communication as a learning opportunity for PAi; however, it does not weaken the validity or justification for our policy.

The additional facts of the plan not provided by Mr. ***** ****** are that it had been communicated to PAi in 2013 that the company is going through bankruptcy and in receivership.  They had not made a 401(k) payroll contribution since September 2013.  However, they have continued to have their participants absorb the administration fees of the plan rather than properly terminate the plan and distribute funds to the participants with balances.  Mr. ***** ****** and the other owner with signing authority, Mr. ****** *******, were provided documentation to sign and proceed with a plan termination in November 2013.  Both individuals did not follow through and sign the form necessary to move forward and provide distributions for all participants (including Mr. ***** ******).  These details make this 401(k) plan a classic example of why the DOL developed the Abandoned Plan Program. For details on the Abandoned Plan Program please access the DOL website: www.dol.gov/ebsa/. 

We had continued to encourage both parties to terminate the plan as it is in the best interest of the plan’s participants and allow all individuals to access their distribution.  Another plan termination package was e-mailed to the parties in January of 2014.  Mr. ***** ****** has refused to assist with that, arguing that he is no longer a Trustee on the plan.

Mr. ***** ****** has voiced frustration in not being able to speak with a member of our compliance or management teams. He did speak with Lin Rostrom, a member of our Voice of the Customer (management) team in January 2014 and was explained the policy at that time. He contacted us again recently and voiced disagreement with our policy. During that time lapse, Mr. ***** ****** made no steps to work with other members of Consortium Companies, Inc. to share our advice to terminate the plan.  To which we again provided a plan termination package in August 2014 to the appropriate parties to sign and return to proceed with distributions. 

Upon Mr. ***** ******’s contact to us this month, we decided it in the best interest of the plan for us to begin working directly with Mr. ****** ******, the Authorized Employer Representative of the plan, to amicably rectify this situation.  This became a challenge as the phone numbers initially provided to PAi were disconnected and could not be completed as dialed.  We had to review previous records to access a personal cell phone number for Mr. ****** ******.  That being said, on September 23, 2014, PAi contacted Mr. ****** ******, and we finally gained his consent to move forward with a plan termination for Consortium Companies, Inc. after 5 attempts to work with these two owners and remaining fiduciary of the plan.   Additionally, PAi has offered to contact all plan’s participants who have a balance and ensure their distribution happens, a responsibility normally expected of the company. We have informed Mr. ****** ****** that we would absorb the termination and distribution expenses so that we can work with them to avoid their liquidated company from having to become involved with the DOL as an Abandoned Plan. We made this decision to do what is best for ALL of the remaining participants in the plan, including Mr. ***** ******.

Finally, in an attempt to discuss the policy and close the issue with Mr. ***** ******, ***** *******, * ******* of our Compliance Team, contacted Mr. ***** ****** on September 26, 2014, and it was communicated that Mr. ****** would be in receipt of this distribution within the next  7 to 10 business days.  As a result of the cooperation of Mr. ****** ******, Mr. ***** ******’s distribution is being completed; he can anticipate its arrival to him the week of October 6, 2014.

 

Business Response:

The desired Settlement that Mr. ***** ****** requested in his 9/20/14 BBB complaint was “I want PAi to rollover my funds they have been holding hostage for the past year.” Our response to his complaint secured his initial, desired settlement.

In his BBB response, Mr. ***** ****** has continued to not accept the justification we have provided and is seeking further clarification on the DOL policy. We encourage Mr. ****** to contact the DOL on their position. At this point we recommend he seeks guidance on interpreting the DOL policy by contacting them directly, as we have been unsuccessful in helping Mr. ****** accept a policy that he does not like.

We have explained and justified our policy, have waived fees, and have gone beyond the expectations set forth on us as his Third Party Administrator to work with others in his former business to reach his initial requested settlement. We consider the complaint closed.

Consumer Response: I am not sure what you are asking me to clarify.  This process has highlighted the fact that PAi does whatever it wants based solely on its best interests.  It is in their best interest to collect fees from plan sponsors and plan participants.   They do not execute these business practices under any legal, moral or other generally accepted principles.  I am an individual employee in a retirement plan where they have held nearly $250,000 of my money hostage for the past year.  I originally asked for the money over a year ago.  They told me that in order to get my money the plan sponsor would have to pay a fee and assign a replacement fiduciary with assets in the plan or the company would have to pay a fee and everyone in the plan would need to liquidate prior to to me getting my money.  They charged monthly fees to my account to hold the money hostage.  They admitted the decision was not based on any operating agreement between the sponsor and PAI or PAi and the me as a participant.  They said it was a company policy and claimed it was supported by the Department of Labor.  When asked to speak to someone who could validate this claim, PAi was non-responsive and uncooperative.  As a result, I filed a complaint with BBB of Wisconsin and PAi quickly changed their tune and allegedly sent the money even though the prerequisites they outlined a year earlier were never met.  Nothing has changed!  PAi has not validated their right to hold the money.  PAi claims they stand by the policy and that it is supported by the DOL.  I say prove it or give me back the fees you stripped from my account.

If you have alternative contact information of other agencies that I should contact please forward them to me and I will gladly head that parallel path.  Otherwise, please ask PAi to validate their right to hold my money for the past year or return the fees they withdrew from my account.
Thank You!  

3/17/2014 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I have been on a merry-go-round with *** trying to get my funds rolled over to my financial advisor at ****** *****. Since November 2013, the nightmare and continued issues of trying to get my money is unreasonable and no customer should have to endure. I filed a negative review in December and they did reduce my final bill by $500 because I am only a one-man participant in the profit sharing plan. With that said, the lack of communication in that company is absurd. I have people sending me invoices, others telling me I need to sign a form, other departments telling me wrong instructions on how to close my year end (which come to find out they had a glitch in their system and postponed my money a few more weeks), payroll errors, they continuously trying to debit a closed account, trying to get a correct final invoice, faxing yet one more form and there is always "one more thing needed to finalize my rollover", emails after emails and none of these departments talk to each other because I have had to repeat my story over and over and over. Since November and it is now March and I still don't have MY money. Absolutely unreasonable and excessive in delaying a funds rollover!

Desired Settlement: I want the $500 you guys charged me to rollover my funds because you guys have charged me $85/mo. for 10 months of "doing nothing" and causing TOTAL frustration for 4 months trying to rollover funds!!

Business Response:

This letter is in response to a notification dated March 6, 2014, from ******* ******, ***** of *** ****** ************ ****, to your agency. In order to better understand the situation with All Aspect Inspections, Inc., we would like to provide a summary of the communications our office had with Ms.

******. 

As background information about our company, *** provides full-service 401(k) administration and payroll processing in a high-tech, high-touch environment for small businesses.  We are passionate about making it easy and affordable for employers to help their employees save for retirement. Our service model is designed to provide comprehensive retirement solutions at affordable fees. That said, our services are internet based and we primarily rely on email and telephone communication with our clients and financial advisors.

In the complaint in question involving Ms. ******, there are approximately 28 calls and emails with Ms. ******. We feel we put forth a good effort communicating with Ms. ******.

1.     In her complaint, Ms. ****** commented about receiving incorrect documentation or communication regarding trying to process a Rollover. *** was instructed to complete a Plan Termination, which is a more involved process than a Rollover. Attached is the timeline of communication our office had with Ms. ******. As you will see, *** does acknowledge the year end processing on our website was not fully functioning when she tried to complete her year end. We also acknowledge a duplicate invoice was sent out to her in error and have apologized to her for this confusion.   

2.     You will also see there were several follow-ups to Ms. ****** to receive the completed Plan Termination paperwork sent to our office. We initially sent her the plan termination packet on December 3, 2013. Our office received the fully signed Plan Term paperwork on February 11, 2014. Once received, that enabled us to complete the 2013 5500 Form. It was supplied to Ms. ****** on February 21, 2014, and signed by her on February 28, 2014. The funds have been liquidated from her account as of March 7, 2014, and her Rollover check is scheduled to be printed and mailed to her on March 19, 2014.

On December 4, 2013, Ms. ****** posted a negative review of her experience with *** on the BBB website. Upon learning of her concerns, we took immediate steps to contact her and listen to her concerns.  After reviewing the situation with her, in an effort of goodwill and in recognition that she was a single participant in the 401(k) Plan, we reduced the plan termination fee from $1000 to $500.   

In reviewing the full sequence of events involving Ms. ******’s, as stated in number one above, we do acknowledge that the year end processing on our website was not fully functioning when she tried to complete her year end. We also acknowledge a duplicate invoice was sent out to her in error. However, by not returning the plan termination packet in a timely manner, Ms. ****** also contributed to a delay in the plan liquidation. Overall, her plan was delayed an additional two months beyond our standard 30-60 day termination timeline. Therefore, despite there being shared ownership in the delay, in an effort to resolve this we will refund Ms. ****** two months of administration fees at $85.00 per month for a total of $170.00.

*** appreciates the feedback provided and the opportunity to improve our services in the future. 

 

Consumer Response:

[A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID *******, and find that this resolution is satisfactory to me IF THEY FOLLOW THROUGH WITH IT.  I STILL HAVE NOT SEEN ANY DISTRIBUTION MONEY AND IT IS GOING ON 5 MONTHS!!!  SO PLEASE DO NOT CLOSE IT OUT UNTIL *** RELEASES MY FUNDS and I see their offer with my own eyes.  Thank you

Regards,

 

******* ******

 

 

 

8/2/2013 Advertising/Sales Issues | Complaint Details Unavailable

Customer Review(s)

The customer review(s) below are un-filtered. These positive and negative reviews are not used in the calculation of the BBB Rating. If you wish to file a complaint and request a resolution to your issue please click here. This customer review section is not BBBs complaint resolution system. Customer Reviews are the subjective opinion of the individual who posted the review and not of Better Business Bureau. A customer review is not posted on a business if a BBB complaint on the same issue(s) is also filed. BBB cannot guarantee the accuracy of any customer review and is not responsible for the content of any customer review. Public comments are not customer reviews.

Customer Reviews Summary

3 Customer Reviews on Plan Administrators, Inc.
Positive Experience (0 reviews)
Neutral Experience (0 reviews)
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