[12263]
July 17, 2000
TO: OPERATIONS COMMITTEE No. 14-00
TRANSFER AGENT ADVISORY COMMITTEE No. 30-00
RE: TRANSFER OF RETIREMENT ASSETS SURVEY
The Transfer Agent Advisory Committee recently formed a task force to assess current industry
practices and procedures with respect to transfers of retirement assets. The task force, chaired by Mary
Corcoran of AIM Fund Services, developed a survey to gather information on asset transfers and direct
rollovers. Attached is a copy of the survey.
The survey questions solicit information on (1) current policies and procedures for incoming and
outgoing transfers of assets and direct rollovers, (2) the nature and extent of incoming and outgoing asset
transfers and direct rollovers and (3) usage of the NSCC Transfer of Retirement Asset (ToRA) service. In
order to complete the survey, we ask respondents to track the requested information for a one-month
period beginning August 1 and concluding August 31, 2000 and to submit completed survey forms to the
Institute by September 15, 2000.
This survey will be a web-only survey. Participants will enter survey data on a specially
designated address on the Institute’s website. Each participating firm is asked to designate a
survey completion contact who will sign up for the survey by entering contact information at
http://members.ici.org/tasurvey/contact.html. Once the survey contact enters their information,
they will receive instructions from the ICI containing the questionnaire URL and further
instructions.
We strongly urge our Operations and Transfer Agent Advisory Committee members to complete
this survey. Your responses will help us to assess current industry practices and work with other industry
groups to further pursue automation and standardization of asset transfers. Additionally, this information
will assist us in discussions with the SEC and NASD on industry practices and issues related to timeliness
of transfers. The survey results will be shared with the committee and reviewed and discussed at future
committee meetings.
If you have any questions regarding the survey, please direct your inquires to
2Patricia Weems at the Institute @ 202/326-5852 or email pweems@ici.org. Technical questions
regarding the web entry of the survey should be directed to Lee Butler at 202/326-5931 or lbutler@
ici.org.
Thank you for your attention and assistance in this important effort.
Donald J. Boteler
Vice President – Operations & Training
Attachment
Attachment (in .pdf format)