My most thought-provoking client called a few days ago asking whether we keep records back into the 1990s and of course, we don't. He had a phone call from a former employee who received one of those infamous letters from the Social Security Administration saying that he "might" be due a benefit from my client's retirement plan. My client did happen to have proof of some sort in his office showing that this man was indeed paid out in 1998 and no further benefits are due. However, my client wants to know what would have happened if he didn't have or couldn't find this information. We have his plan's activity in our computer software back to 2005, and we have paper copies of everything for the last 7 years, but nothing as far back as the 90s. Whenever this has come up before in the various places I have worked, the position has been taken that if the plan does not have a balance for a certain participant today, then he must have been paid out in the past. So far no participants that I dealt with have ever insisted that I "prove" that he or she was paid out. How are other firms handling these inquiries? Have any of you had a participant who wouldn't take "no" for an answer and insisted on proof that he or she was paid out in the past?

Suppose a bank or financial institution offers to provide preferred commercial lending rates to a retirement plan sponsor if that sponsor moves their 401(k) plan assets to the financial institution. Can anyone point me to any white papers or articles discussing this topic?