Spencer Williams

A 4-step plan of action to improve your strategy for locating missing participants and beneficiaries.

The next step in the ongoing modernization of the retirement vehicle involves adopting plan features which encourage seamless savings portability and consolidation.

The next step in the ongoing modernization of the retirement vehicle involves adopting plan features which encourage seamless savings portability and consolidation.

Plan sponsors can help female employees save more for their post-work years by encouraging and facilitating 401(k) account consolidation.

Plan sponsors can help female employees save more for their post-work years by encouraging and facilitating 401(k) account consolidation.

Employers should concentrate on adopting measures that enable seamless plan-to-plan savings portability for participants, especially for employee accounts with less than $5,000.

Plan sponsors can help find retirement accounts with the help of “auto-locate,” a technology that creates links between record-keeping systems and establishes a virtual database of all employee records.

The best way for plan sponsors to keep missing retirement participants to a minimum is to adopt auto-portability for accounts with less than $5,000, and actively encourage account consolidation among those with larger balances.

Employers should concentrate on adopting measures that enable seamless plan-to-plan savings portability for participants, especially for employee accounts with less than $5,000.

Making plans transferable from employer to employer can help clients attract and retain top talent.