Avoid DOL Scrutiny – The Safe, Low-Risk Way to Manage Missing Participant Accounts
Managing missing participant funds can be a complex and time-consuming process for plan sponsors and trustees. And with the Department of Labor’s increased scrutiny of benefit payment practices, unintentional mismanagement of these funds can put you at fiduciary risk.
Learn how outsourcing to a third-party vendor provides a safe and cost-effective solution by downloading our free article Managing Missing Participant Accounts and Fiduciary Responsibility.
Protect Your Business and Your Plan Participants
Attempting to locate missing participants often seems like a fruitless and frustrating task. Appropriately managing missing participant accounts requires choosing from a number of different options, many of which are problematic. And terminating a retirement plan with missing participants increases the complexity of the process and the fiduciary risk to the trustee.
Fortunately, there’s an easy way to protect the interests of plan participants while reducing your fiduciary risk – outsourcing to a qualified Missing Participant IRA vendor like PenChecks Trust. PenChecks Trust’s complete Default/Missing Participant services can:
- Save you time and money
- Reduce fiduciary risk
- Protect the plan participant’s assets
- Free up your staff to focus on higher-value services to your clients
With the DOL watching more closely, it’s more important than ever to fulfill your fiduciary responsibilities to plan participants!
We hope you will find this article helpful!
To learn more about PenChecks Trust Default/Missing Participant services, click here!