Loan & Distribution Specialist AimPoint Pension
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AimPoint Pension
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Bates & Company, Inc.
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Compass
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Regional Vice President of Sales The Retirement Plan Company
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Missing Retirement Plan Participants? DOL Says You Should Follow These Best Practices
Bradley [Guidance Overview] Jan. 20, 2021 "[T]he DOL expects that plan administrators will track participants with stale contact information, keep a record of mail that has been returned, and account for checks that are uncashed.... As further suggested by the DOL, when a plan (or just its assets) is acquired in connection with a corporate transaction, the buyer should require the seller to provide records of missing participants and any search efforts that have been taken.... Plan administrators should update any applicable policies and, in some cases, plan documents to include these additional search steps." |
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