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Lost retirement plan participants most often tend to be millennials, who move frequently and might not update their address with a former employer. (Photo: Getty)A study from Boston Research Technologies and Retirement Clearinghouse has found that a participant move has created a stale address record for one out of every five retirement plan accounts—just because the participant didn’t notify a former employer when relocating.
The study “The Mobile Workforce’s Missing Participant Problem” also finds that the frequency with which participants move contributes to the problem.
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Marlene Y. Satter has worked in and written about the financial industry for decades.
As the results turn Washington upside down, state capitals are purring along.
Employers should prepare for the Equal Employment Opportunity Commission to pay more attention to the caliber of their internal investigations into workplace harassment, some employment lawyers said.
A plan member accused a plan vendor of disguising subcontractor fees as provider charges.
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