Understanding Forfeiture Accounts and Missing Participants
If you’ve had former employees who left before their retirement plan account was fully vested, there may be unvested money in your Plan. This can translate to free money for your business and you can benefit from this by utilizing the unvested funds.
Cleaning up missing participant accounts is a great way to save on administrative costs by paying plan expenses and gives you the option of off-setting or allocating company contributions from that forfeiture account against future employer contributions! Check out our easy checklist today and discover if any extra funds could be yours.
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