Thanks for the help in advance!
Has anyone run into a situation where the SSA is sending out wildly incorrect account values to retired participants receiving the "Potential Private Retirement Benefit Information" letter?
I currently have two participants who have reached out to me and sent copies of the aforementioned letter which shows their account values as their recorded account value on the 8955-SSA with two additional zeroes added onto the reported figure. For example, one individual was reported on the 8955 as having an account value of $10,201 but the letter he received shows a reported account value of $1,020,100?
I understand that this is a "may" letter, but that seems wildly inaccurate and for it to have happened to two participants is a little disconcerting.
Thanks again!