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Icahn Conversion to T. Rowe Price
IT’S ABOUT BEING THERE.
DaVita Inc. Conversion to T. Rowe Price
Overview
October 2009 November 2009 December 2009 January 2010 February 2010
Test valuation from Fidelity
Plan sponsor approval
DaV
ita,
Inc
Tea
m
DaV
ita,
Inc
Par
ticip
ant
Initial planningsession w/TRP
Communications audit
Conference calls
Formalize investment strategy
Begin production
Announcementletter mailed
Prepare service agreement
Conversion brochure & SOX notice distributed
Follow-up with Fidelity
Information kits sent Phone lines open
Employee meetings
ƒ
Service agreementfinalized and executed
Conversion data to TRP
Full services
begin
Create participantdata base
Submit test data
ƒ
Conversion money to TRP
TR
P C
onve
rsio
nT
eam
TRP to submit test salary deferral & loan extract file
ƒ
Plan features and resume on system
ƒPost conversion
Window period turned on for auto investment
ƒ
Approve administrative procedures
Send live start-up files
Begin sending live maintenance files
First conference calls with Fidelity
DaV
ita,
Inc
TR
PP
artic
ipan
t
October Objectives
TRP Team:– Review Plan documents/
Summary Plan Description– Prepare implementation manual– Prepare communication audit
document– Identify key decisions and
outstanding questions– Prepare administrative procedures
for review with DaVita, Inc
DaVita, Inc Team:– Deliver Plan documents/
Summary Plan Description– Identify internal resources– Notify Fidelity– Select investment menu– Identify employee meeting needs– Finalize plan design
Combined Team:– Conduct initial planning meeting
– Plan design– Services– Determine payroll required files– Determine payroll file layouts– Determine payroll file testing timing
– Conduct communication audit– Identify processing time frames and due dates– Establish communications success criteria– Conduct regularly scheduled status meeting
conference calls
October 2009Milestones 10/7
Plan Sponsor selects investment menu
10/15 Initial planning session/Communication audit (Discuss plan design/payroll services)
DaV
ita,
Inc
TR
PP
artic
ipan
t
November Objectives
11/2Conference calls with Fidelity
November 2009Milestones
11/5Concept presentation for communication strategy
11/12 Finalize communication strategy concept
11/25 Announcement letter mailed
TRP Team:– Prepare conversion brochures and
SOX notices for review– Prepare service agreement and Trust
agreement– Review and evaluate data feed
for contribution/maintenance files– Setting up the plan features
on the recordkeeping system– Concept presentation for
communications strategy
DaVita, Inc Team:– Review service agreement
and provide comments– Review administrative procedures– Provide final approval for
communications strategy concept
Combined Team:– Conduct regularly scheduled
status meeting conference calls– Announcement letter distributed– Conference calls with Fidelity
DaV
ita,
Inc
TR
PP
artic
ipan
t
TRP Team:– Set up system for employees to obtain
general plan information and fund information
– Develop and review plan text for phone representatives
– Fidelity to send test valuation file– Reconcile test conversion from Fidelity– Identify data/assets issue– Prepare test salary deferral and loan
extract file– Review test data for contribution and
maintenance
December Objectives
Combined Team:– Conduct regularly scheduled
status meeting conference calls– Follow-up call with Fidelity
DaVita, Inc Team:– Prepare live start-up file– Prepare test data for
contribution/maintenance– Review comments on test
results– Review and provide
comments on test salary deferral and loan extract
– Review and approve conversion brochures and SOX notices
December 2009Milestones
12/28Submit live start-up
12/15Follow up call with Fidelity
12/18 Conversion brochure and SOX notice distributed
12/1 Submit test data (indicative data and contribution)
12/7 Test valuation from Fidelity
12/11TRP to submit test salary deferral and loan extract files
DaV
ita,
Inc
TR
PP
artic
ipan
t
January 2010Milestones
TRP Team:– Post live start-up to populate participant data
base on TRP recordkeeping system– Conduct employee meetings– Window period turned on for auto
investment opt out– Finalize and execute service agreements– Finalize administrative procedures– Post first live maintenance file– Open phone lines for plan & fund information
DaVita, Inc Team:– Review and finalize
service agreements– Finalize administrative
procedures– Prepare first live
maintenance file to TRP
January Objectives
1/15Execute service agreements
Combined Team:– Conduct regularly scheduled
status meeting conference calls
1/1Information kits sent
1/7-1/21Window period turned on for auto investment opt out
1/7-1/18Conduct employee meetings
1/2Live start-up data posted to create participant database
1/9Live maintenance files begin
1/4Phone lines open for plan and fund information
DaV
ita,
Inc
TR
PP
artic
ipan
t
February 2010Milestones
TRP Team:– Conversion money to TRP– Conversion data to TRP– Post conversions– Set up participant’s statement format– Post first contribution files
DaVita, Inc Team:– Review and authorize posting
of conversion– Review and approve
participant’s statements– Prepare first contribution feed
for transmission to TRP
February Objectives
Combined Team:– Conduct regularly scheduled status
meeting conference calls– Finalize any outstanding conversion items– Transition to day-to-day team
2/8 Fidelity sends conversion data to TRP 2/11-2/15
Authorize posting of conversion
2/4 Invest assets
2/11-2/15Reconcile and post conversion
2/16Full service begins
Overview
October 2009 November 2009 December 2009 January 2010 February 2010
Test valuation from Fidelity
Plan sponsor approval
DaV
ita,
Inc
Tea
m
DaV
ita,
Inc
Par
ticip
ant
Initial planningsession w/TRP
Communications audit
Conference calls
Formalize investment strategy
Begin production
Announcementletter mailed
Prepare service agreement
Conversion brochure & SOX notice distributed
Follow-up with Fidelity
Information kits sent Phone lines open
Employee meetings
ƒ
Service agreementfinalized and executed
Conversion data to TRP
Full services
begin
Create participantdata base
Submit test data
ƒ
Conversion money to TRP
TR
P C
onve
rsio
nT
eam
TRP to submit test salary deferral & loan extract file
ƒ
Plan features and resume on system
ƒPost conversion
Window period turned on for auto investment
ƒ
Approve administrative procedures
Send live start-up files
Begin sending live maintenance files
First conference calls with Fidelity
Successful conversion of the plan!