Participants Listed on SSA

[Andy the Actuary]

All of a sudden, a client has orphan participants receiving notices of their possible benefit entitlement from SSA. The Plan valuation records don't report these participants nor are Company payroll records from the 1970s and 1980s readily available if available at all. The Company wants to ensure all participants get their benefits.

Is anyone aware of a process whereby a Plan Administrator may request the SSA to identify all participants listed on SSA for their plan?

Best Regards,

andy

[SoCalActuary]

Sometimes, we have been able to go back through distribution records and find that final lump sum payment was made. No one filed the SSA with code D.

But this deserves to be discussed with IRS, because it requires individual taxpayer information to be disclosed.