JAY21 Posted March 8, 2011 Posted March 8, 2011 One way or another we have always seemed to find the missing participants on our PBGC covered plans. However, that streak may be about over. I have plan with 5 potential missing participants but we have NOT yet done a publich search for them. Does anyone know of a good public search company (or two) that you have had sucess with in the past. I believe we cannot escheat the money to the PBGC as part of their missing participant program unless/until a publich search has been completed. Any names would be appreciated. Thanks in advance.
Andy the Actuary Posted March 8, 2011 Posted March 8, 2011 One way or another we have always seemed to find the missing participants on our PBGC covered plans. However, that streak may be about over.I have plan with 5 potential missing participants but we have NOT yet done a publich search for them. Does anyone know of a good public search company (or two) that you have had sucess with in the past. I believe we cannot escheat the money to the PBGC as part of their missing participant program unless/until a publich search has been completed. Any names would be appreciated. Thanks in advance. Just in case you are unfamiliar with this service, the Social Security Administration may be able to assist: http://ssa-custhelp.ssa.gov/app/answers/detail/a_id/136 The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.
david rigby Posted March 9, 2011 Posted March 9, 2011 Maybe the IRS letter forwarding program http://www.irs.gov/retirement/article/0,,id=110139,00.html I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
ESOP Guy Posted March 9, 2011 Posted March 9, 2011 This is a good company that will do various search methods. The will do the gov't search methods for you besides using non-gov't sources. Afterwards they will give you a letter stating the search met the DOL regs requirements for a search. Not that expensive. No I don't get a commission. Over the years I have had a number of client use them with sucess. http://pbinfo.com/
SheilaD Posted March 9, 2011 Posted March 9, 2011 One way or another we have always seemed to find the missing participants on our PBGC covered plans. However, that streak may be about over.I have plan with 5 potential missing participants but we have NOT yet done a publich search for them. Does anyone know of a good public search company (or two) that you have had sucess with in the past. I believe we cannot escheat the money to the PBGC as part of their missing participant program unless/until a publich search has been completed. Any names would be appreciated. Thanks in advance. We have used http://www.employeelocator.com/ (no commissions for me either). They are very inexpensive and respond in 24 hours in most cases.
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