Are you looking for missing participants in your plan? The search is not over just because a forwarding address has not been provided. Plan sponsors can use free internet search tools to look for participants, including social media. If such searches are unsuccessful, the plan sponsor must use more advanced search tools that often include a fee for the search. Another DOL method is to send an inquiry to the designated beneficiary of the missing participant. Yet another reason to get those beneficiary forms completed! It’s best to “cash-0ut” participants who leave employment as soon as possible, to act immediately if their address changes, and to encourage participants to always provide an updated address.

Are you doing what it takes to find missing participants? Maybe? Contact us today to see if we can help guide you.