X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
man on ladder with binoculars These missing former employees are considered plan participants under the law, posing a serious challenge for employers, who are required to try to find them. (Photo: Shutterstock)

It has long been a challenge for employers to keep track of employees once they are no longer on the payroll. People relocate, marry, divorce, change their names and ultimately pass on. Couple that with the mobility of the 21st Century workforce and the increased use of auto-enrollment programs, and employers find themselves with an ever-increasing population of missing or unresponsive former employees; many of whom are not even aware that they have a balance in their former employer’s retirement plan.  These missing former employees are considered plan participants under the law, posing a serious challenge for employers.

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.