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Old May 4th 07, 04:19 PM posted to,,alt.chess,,alt.accounting
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Default Retirement Plan Update from Donna Alarie

Post:44271 Posted: Thu May 03, 2007 3:47 pm Post subject:
Retirement Plan Update Reply with quote
May 3, 2007 Update as promised...

To the best of my knowledge, USCF has not received a reply from its
attorney concerning the legal questions that were sent to him last
week. There is nothing unusual about that as the questions go back to
the 2002/2003/2004 time period and may very well require that he
research his old files for information.

While in TN, with the help of Jim from the office, I was able to find
the 1992 retirement plan, the summary of the original plan, and
numerous accounting documents and reports that are essential in trying
to balance Form 5500's to internal reports to management company
summary reports to auditors statements to general ledger accounts to
the bank statements. Although this would seem to be an integrated
system with everything balancing, there are several conflicting
numbers on various reports during several time periods in USCF's
history and I am expecting it to take about a week to obtain the
documents from various sources for the years we couldn't find. Adding
to the complication of the calculations is adjusting between fiscal
year end and calendar year end.

I can assure everyone that there truly are 100-200 boxes of documents,
items, books, and all sorts of "treasures" in storage in Crossville.
One of the issues in searching for information is that some of the
individuals who packed in NY are not the same employees who are now in
TN. So, while there is a pallet of items that say 2000 Accounting, it
doesn't say what's in each box. And while one Executive Director might
have chosen to have the Executive Secretary keep items in her file
cabinet, another chose to have the Finance Dept. keep the items.
Still, I think whatever could be found from storage has been found.

There were also meeting tapes of the meetings and some have been
found, but not all. We're still trying to locate a few.

What has become obvious throughout this inquiry is that USCF has lost
a lot of its institutional memory by the constant changeover in
Executive Directors, Finance Dept. individuals, etc. All the records
have not been filed in a consistent manner over the years and changes
in personnel have often created changes in systems. As we are now in
the computer age, it's a lot easier to find current items due to
electronic storage. However, a lot of what we're looking for was done
by fax or just plain snail mail.

There are still over 100 emails and several calls regarding the items
being discussed with more items in the mail between various parties so
although it would be great to say that we're nearing some conclusive
answers, it's really that we're still in the information collection
phase since many more people had documents than we were first aware.

The former employees seem to be graciously understanding that we are
all working as hard and fast as we can to get information and the
exchange of information between the parties has been constant so that
they are now hopeful that this will all be settled once, done right,
and all will be treated fairly.

Again, this is going to take some time. My thanks to those of you who
have provided information, contacts, advice, etc. There have been many
who have made a difficult situation more bearable and your patience
has been truly appreciated.

Next update will be May 9, 2007.


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