Easiest way to find old terminated employees?

[RayJJohnsonJr]

This is been a problem for a long time and I haven't asked this question in a while: 

What is the easiest way to find old terminated employees to try and pay them out? 

 

Thank you.

[LPHR]

There are companies that provide this service (of finding terminated employees).  I don't recall any names, but your TPA/Service Provider may have some names handy.

[CuseFan]

https://pbinfo.com/locate-missing-participants/

This is one that we use.

[fmsinc]

Do they have to be "old" terminated employees?  What about "young" or "middle aged" terminated emplolyees?  

[david rigby]

You should review the many prior discussion threads for more ideas and concerns.  A search term of "missing" might be helpful.

Probably an important part of this process is interviewing current and former employees who know/knew the missing employee.  Perhaps interviewing former neighbors.  This step is likely undertaken by the employer (not by any TPA).  Because the plan sponsor wants a real answer, do not be sucked in by the "last known mailing address" excuse; this is (in very practical terms) a "cop-out".  And the sponsor should eventually be prepared to deal with a response similar to "returned to his/her home country".

[Francis]

Even if an employer learns what it believes to be the new mailing address for a terminated employee with a balance, doesn't that participant have to (must) take action to provide instructions to the employer or recordkeeper to change their mailing address? Otherwise, there could be privacy violations, etc.?

[RayJJohnsonJr]

Good point.