Abandoned Retirement Plan Services

We Combine Technology and Experience

Abandoned plans cause serious issues for service providers. We combine extensive experience, powerful technology to automate the process, and client service support.

Third-party administrators and financial organizations don’t typically have authority to perform plan administrator duties, such as terminating the plan. They often stop receiving payment for their services and may incur expenses related to DOL inquiries. They also have a hard time assisting plan participants who don’t understand what is happening.

We were the first company to process a plan through the qualified termination administrator (QTA) process. We have a proven record of taking plans of all sizes to a successful resolution. The DOL looks favorably upon providers that proactively address abandoned plan situations before fees can exhaust plan assets. Don’t wait until the DOL becomes involved.

Benefits

  • Save time: Pre-existing document and reporting requirements are waived if certain conditions are met, so you won’t need to make plan document amendments or file Form 5500.
  • Alleviate costs: Our service fees can be paid by a third party or possibly paid directly from plan assets.
  • Move forward: QTAs are not required to investigate breaches of fiduciary responsibility that may have occurred in the past.
  • Take action: We’re also able to provide direction to other financial institutions—even if the plan’s assets are held in multiple places.

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