The turnover problem

Ary Rosenbaum - The Rosenbaum Law Firm P.C.
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Ary Rosenbaum - The Rosenbaum Law Firm P.C.

I’m a big New York Giants fan and one of my least favorite players was Tiki Barber, who had an affinity for turning over the ball. That’s why I’m not a fan favorite of the current starting quarterback, Daniel Jones.

When it comes to your third-party administrator (TPA), employee turnover is a big deal. I worked at a TPA, where I joked we should have a revolving door in front because we had such a high employee turnover. If your TPA’s main contacts in handling your plan are constantly changing and the prior contacts have left, to me this is a sign of volatility that you don’t need. Turnover talks time and training and you want someone that you can consistently rely on in providing services to your plan. A change all the time gets in your way and negatively impacts the service to your plan.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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