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Lost Participants and Uncashed Checks
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When: Tuesday, September 19, 2017
11:00 A.M. - 11:50 A.M. CT
Where: United States
Contact: NIPA Headquarters
(800) 999-6472

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Lost Participants and Uncashed Checks

Presented by: Amy Cavanaugh, ERISA Consultant, DATAIR
Presentation Date: Tuesday, September 19, 2017
Presentation Time: 11:00 A.M. – 11:50 A.M. CT
Continuing Education Credits: 1.00 NIPA CPE; 1.00 ERPA CPE 

Description: An increasingly mobile workforce with plan design features such as automatic contribution arrangements and automatic cash outs have created somewhat of a perfect storm, resulting in an increased number of lost participants and an ever growing number of uncashed distribution checks. Both create unique and sometimes perplexing administrative challenges, as well as potential liabilities for both the plan sponsor and service providers.  

Webcast outcomes: Attendees will learn about:

  • Specific fiduciary responsibilities of locating lost participants
  • Monitoring plan distributions to make sure that distribution checks are cashed in a timely manner
  • Best practices designed to find lost participants and limit the number of participants and beneficiaries who go missing
  • Practical suggestions for the distribution process to ensure that participants and beneficiaries actually receive their retirement benefits 

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