TT 401K conference call

• Anyone know how long conference call lasts for new 401-K? - TT'er trying to decide
  • About to apply to TT. How long before I'm eligible - for the 401K, and does TT match? nm
    • 12 months and yes they match. - mttt
      • Whatever that means -- I think according to their profit for the year . n/m - TT discretionary match
        • No, it's not according to profits - not from what I read. - tter
  • TT 401K conference call - passing through
    • Thanks for the info. Guess I will wait till Mon. - TT'er trying to decide
      • Recently hired on and was told those of us coming on now (sm) - nn
        • I think it is 12 months. - nm

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We’re so glad that you joined in this afternoon’s conference call announcing the merger between MDI and Transcend Services.  This is an exciting time for all of us, but I know that even good changes can bring about anxiety and I want to assure everyone that we are here to answer your questions to the best of our ability.   

All MDI team members are encouraged to send any questions or concerns you may have that are not addressed in the FAQ sheet you’ve received to TeamMDI@mditrans.com so that we can address these in team conference calls which have been scheduled for Thursday morning (your team lead will provide you with the details).   

Dorothy, Don, and myself, will continue to be available via email to everyone and will respond as quickly as possible to your questions and concerns.  We urge you to utilize the TeamMDI@mditrans.com email address for all your questions so that you can be assured of receiving the most accurate information as soon as possible. 

We look forward to continuing to work with each one of you as we move to the future.    

Thanks,

Carlotta M. Buckley

MDI – Director of Transcription Services

Interesting quote from that press release:

...including the conversion of some of MDI's business to Transcend's speech recognition-enabled BeyondTXT platform,...

My antennas went up right away this morning when the call began.  It was acknowledged that this news must have come as a surprise to us, but when our moderator said it had also come as a surprise to her only a few days prior, my hopes for some honest and forthright information went down the tubes.  It seems to me someone who was moving up in the chain of command would have known what was going on much longer than a couple of days.

I took advantage of emailing one of the team leaders from Transcend last night with some questions about the flexibility of the schedules and shift work, etc., and here is the answer she gave to me: 

We do have shifts instead of line count commitments, but we also never discourage anyone from working extra, and in fact we are always asking for extra help, so that isn’t a problem.   Everyone here logs lines and hours for payroll.   The hours are because if you work overtime we do have to pay that.    We do usually ask that you see if overtime is allowed first, but it’s not that big of a deal because most of the time we are so busy we approve it anyway, so yes if you want to work more you certainly can.     We consider $900.00 gross a pay period fulltime.   We used to count it in lines, but now we have come up with a money amount.    That’s easy to achieve actually, but you don’t have to stop at 900 by any means, it is just minimum to remain fulltime. 

You will see, more often than not, we are begging people to work extra.   We cross train on platforms and most people have primary, secondary, tertiary accounts.   If one isn’t busy another one is.   You will not be constrained on the amount of money you want to make ...

So, if that takes any mud out of the water for you that's good, but it still seems that our flexibility and earning capacity will depend on someone else.  I certainly agree with everyone about the pay scale.  You can't convince me that they have gone through all of these negotiations and pay has never entered into the picture.  I believe it will be just exactly as one caller said this morning, they will attempt to equate the benefits with the pay, so I guess when my power company comes to shut off my electricity I can send them over to Blue Cross/Blue Shield or whoever to get the balance of my money. 

I'm hoping for a recap email regarding the conference call.  In the meantime, anything interesting or noteworthy?  I'm definitely torn on this one, and hoping for some good news.

Thanks

that we would maintain our flexiblity and be able to meet our commitments in a 24-hour window.  Are you saying there are set shifts?  That is huge for me, as I cannot work a set shift around my kids' ever-changing schedules.  Right now we are required to work 2 weekends days per month and we commit to X number of lines per day on the days we schedule ourselves to work.  We were told this flexibility would NOT change.  We also do not request holidays off, but schedule ourselves to work one holiday per year.  We write our own schedules and submit them every 2 months.  The flexibility is the biggest reason I have worked for MDI for years and the only place I wanted to work again after taking a year off to be with a newborn.

I like my current accounts, but am willing to also learn a new platform/account to make sure I have enough work.  But the flexible scheduling is imperative.

Please give me the details.  :)

I'm glad to be working for Webmedx. 

I saw some postings earlier and wanted to let you all know, just going to the labor board about money not being handled correctly may not be enough - however, I went righ to the SEC website and lodged a complaint against the plan holder for not managing my account, not giving me the information regarding the plan structure when asked, and for not informing me when my company did what they did.  So if your company is screwing around, put in a complaint about the holder of the plan, that will get someone off their butts to help you out - they certainly do not want to be blamed when the SEC asks why they allowed mismanagement.  I placed my complaint yesterday and the good ol SEC called me today.  Just thought I would pass it on for those who have the same problem.

Again, the complaint is with your plan holder, who certainly would not want what your company did to be held against them.

Hi All;

Are there any companies out there using the Escription platform that offer any benefits, especially a 401K---matching would be fantastic.  I love the 2 companies I work for and my accounts, but really need to have a retirement plan.  Guess I will just have to start my own, maybe a ROTH IRA.  Any advice would be appreciated.

Thanks, Sue

I hate them, hate them, hate them. 

I have worked a few places where conference calls were utilized and INVARIABLY they covered things that could easily have been covered in a memo, in a couple of paragraphs even, only the call would last half an hour to an hour.  They were always a COMPLETE waste of time.   Paid or not, they were just unbearable. 

I am contemplating what I am going to do with my 401K money...move it to the new (as yet unknown) 401K plan offered by the new payroll service, cash out or keep it where it is and see if money grows?  We really did not have it long enough for any of my money to grow at all, so thinking of maybe cashing out since times are so hard right now.  But, I still wonder what the employer match will be, if any?  I know it was to be based upon the previous year's earnings for the company, but we were not with the 401K for a year yet.  I just wanted to ask what others are thinking of doing?

I found that my 401K with Spheris is in jeopardy.  The company Circle Trust is being investigated by the SEC and two of the phone lines are diconnected and the others box is full so you cannot even find out if you are going to get your money.

Anyone know where to contact