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Prospect Among Terminating Plans by Solving "Notification" Problems

Last month, we offered ideas on how to use FreeERISA's 5310 database of terminating pension plans to generate leads in your market. This month, let's ...

Last month, we offered ideas on how to use FreeERISA’s 5310 database of terminating pension plans to generate leads in your market. This month, let’s focus on ideas for contacting those leads and turning them into participants you can counsel and rollover assets you can capture. Keep in mind that many “5310 terminations” occur when a company changes from one type of plan to another, such as converting from a defined benefit or money purchase plan to a profit-sharing or 401(k) plan.

From a plan fiduciary’s perspective, there are two separate areas of responsibility regarding terminations. One involves handling money. The other involves notifying participants of their rights and options.

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