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Lost Participants: Welcome to the 21st Century
Presentor: Derrin Watson Recorded Date: 10/1/2014 Duration: 60 Min.

Description
This program was recorded during a live presentation given on October 1, 2014 at 12:00PM EDT. *******************************************************************************

The DOL has revised the rules for dealing with lost participants. This is a perennial problem for retirement plans and the new guidance removes obsolete government locator services in favor of internet searches.

This program will address the lost participant landscape in general and the new rules in specific to provide you with a thorough understanding of this important area. As always, we are happy to take your questions. Topics will include:

  • When is someone lost: Old rules and new
  • What happened to the locator services?
  • What searches should you do?
  • What if they are still lost?
  • Can you charge accounts for costs of searches?
  • Do you need to disclose those charges?
  • What alternatives are there for lost participant accounts?
  • Should you forfeit the account?
  • Should we expect help from the PBGC?

Prerequisites: There are no prerequisites or other advanced preparation for this program. The speaker will expect attendees will have a general understanding of the operation of 401(k) and other retirement plans.

Level: Overview

Instructional Delivery Method
Group – Internet-Based

Speaker: S. Derrin Watson, J.D., APM
Recipient of ASPPA's 2006 Educator of the Year Award

Objectives: After viewing the presentation, an attendee should be able to:

    List the steps plans should undertake to find lost participants
  • List the steps plans should undertake to find lost participants
  • List the alternatives for addressing lost participant accounts
  • Explain the requirements connected with charging for searches
  • Advise a client regarding forfeiture, rollovers, and other alternatives

How To Participate
You will need a phone (speakerphone, for multiple participants sharing the Primary registrant’s authorized connection) and Internet Access. The graphics presentation and illustrations will be viewed via the Primary registrant’s Web connection, while the speaker audio portion will be via the Primary registrant’s telephone.

Select the "Fees" link on the right side menu of this page for more information about who is authorized to connect to the program, and for the cancellation/transfer policy.

Program related requests, questions, or concerns may be emailed to: relius.education@sungard.com.

 


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