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Barbara Weltman

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Best Practices for Retirement Plans to Keep in Touch with Former Employees

February 3, 2021 / By Barbara Weltman

Participants who have left a job may fail to apply for benefits when they’re entitled to. This puts a burden on plan administrators to track them down and follow other procedures. DOL has informally provided some best practices to follow to minimize the problem. This includes maintaining accurate information about participants, including social media contact information and next of kin/emergency information. #IdeaoftheDay
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Small business ideas, business tax news and small business consulting from Barbara Weltman to provide business owners with the information they need to succeed. Visit our small business blog, Idea of The Day®, small business books and articles on small business taxes, small business finance and small business legal advice.

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