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Former Employees with Plan Assets are Still Plan Participants
Team SummitEmployer Resource Center, Fiduciary GovernanceComments are off for this post
Plan Sponsors should understand that terminated employees who have left their account balance in your plan, are still considered participants under ERISA. As such, they have the same rights as current employees. They cannot contribute to their account under the plan, but otherwise, they have the same ERISA protected rights as plan participants. One protected  Read More →
Lost & Found: Locating Missing Participants
Team SummitEmployer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
At one time or another all plan sponsors will likely be in the position of having to locate missing participants. This may be related to delivery of regulatory required communications, distributing of assets, or communicating fund changes to active and/or terminated participants. If the delivery of necessary communications is encumbered because a participant cannot be  Read More →

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