Quote:
Originally posted by To Serve Man
Originally posted by Associate-No-More
The Greedy IP Board is reporting the following regarding Skjerven Morrill :
"As part of their plan to terminate the 401(k) plan, Skjerven is withholding a portion of each remaining plan participants' account to pay 'Administrative' costs for terminating the plan. "
Brobeck is doing the same thing--prior to dissolving, the firm would have eaten the costs. If you ever leave a firm be sure to take your 401(k) with you.
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Actually, the Brobeck partners didn't pay any of the 401K plan fees since second quarter of 2002. And, oops, they forgot to tell the plan participants that they were stiffing the bank that ran the plan. And, that's just one of the screw-ups. Now, 2,000 participants are stuck with paying last year's unpaid bills and the termination costs, no one's gotten a penny out yet, but no one can even borrow against his/her account. And, here's a swell kicker, estimates are that it will take as much as two years before everyone is processed out. Advice to the Skjerven participants: Get on top of this immediately.
And, just as with the summer associates left high & dry, not one word of apology from the Brobeck partners for this, or any of the messes they made.
PS - Hey Tyrone, thanks for the great pix a few pages back. I'm trying to figure out how to avatarize Gort.
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