We have had the opportunity to help several of our corporate clients meet their fiduciary duties and locate Missing Plan Participants of Terminated Defined Contribution Plans. One such case involved 83 retirees that the company had lost track of.
With the information that the client was able to give us, we researched, first, to determine if the individual was alive and second, to find a current address for the living retirees.
We were able to accomplish this research relatively quickly and provide our client the required information in just a matter of a few days.
Our client was more than pleased to be able to fulfill their obligations under ERISA to locate missing participants and properly distribute any account balances.
If you or one of your clients is in this situation and needs help finding missing plan participants, CIC has the tools to be able to help.