Loves401(k) Posted January 31, 2018 Posted January 31, 2018 Rehire and no records to tell if they had a vested account balance. A company was bought years ago and their plan merged with our plan. We got good records for 2013. But nothing prior. If he had a vested account balance, he is immediately eligible on rehire. What would you do in these circumstances?
BG5150 Posted January 31, 2018 Posted January 31, 2018 Go conservative and let him in? Maybe ask him personally about his past work experience? Just tell him it's to make sure the records straight. QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
CuseFan Posted February 1, 2018 Posted February 1, 2018 Make no mistake, DOL puts the onus on maintaining complete and accurate records on the employer, and any situation like this where the employer is lacking records must be resolved in the participant's favor, and court cases have affirmed. hr for me 1 Kenneth M. Prell, CEBS, ERPA Vice President, BPAS Actuarial & Pension Services kprell@bpas.com
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