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401k › Former Employee › Department of Labor (DOL)

Bricker Graydon LLP

Knock Knock, Is Anyone Home? Do You Know Where Your “Missing” Retirement Plan Participants Are?

Bricker Graydon LLP on

In the laundry list of retirement plan administrative and operational requirements, plan sponsors may sometimes overlook their obligations with respect to terminated vested employees. Even though these individuals have left...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The problem with former employees

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

I always say that the reason I don’t have employees is I was an employee once too. My joke about employee-employer relations is that no employer ever thinks they pay their employees too little and no employee thinks they get...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The former employee has an axe to grind

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

Someone I know was let go during COVID in April 2020. Thankfully, they were reemployed rather quickly since they had an outstanding job offer that they didn’t reject....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Hell hath no fury than a former employee scorned

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

I always say that the reason I don’t have employees is I was once an employee too. I was never totally happy with pay and benefits and I don’t know if I ever could be totally satisfied where I worked. I was a good employee,...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

What you need to do about missing participants

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

As a 401(k) plan sponsor, it’s not hard to lose touch with former employees who still have an account balance in your Plan. The problem is that as a plan fiduciary, you just can’t let that money sit without trying to locate...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Apples and Oranges: Rollovers, Qualified Plans, and The Best Interest Exemption

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

One of the wrinkles of the new fiduciary rule is the requirement of a financial advisor who wants to solicit former plan participants for a rollover to review the costs involved with the plan to determine whether moving the...more

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