Examples of Lost Participants in a sentence
Advisory Council on Employee Welfare and Pension Benefit Plans, Locating Missing and Lost Participants, November 2013 (https://www.dol.gov/sites/default/files/ebsa/about-ebsa/about-us/erisa-advisory- council/2013ACreport3.pdf).
Unclaimed Payments or Lost Participants When distribution of an Individual Account is to commence to a participant, spouse or beneficiary under the Plan, the Trustees shall use all reasonable efforts to locate and contact the participant, spouse or beneficiary in accordance with procedures adopted by the Trustees.
Lost Participants and Plans Approximately a third of the cases that come through the pension counseling projects begin as a “lost plan” problem.
Oversees the contract administration related to properties (airline) management for the Airport Authority.
Article IX of the Plan is hereby amended to add the following new Section 9.5 to the end thereof to read as follows: 9.5 Lost Participants.
Reallocation of Lost Participant's Accounts If the Administrator cannot locate a person entitled to payment of a Plan benefit after a reasonable search, the Administrator may at any time thereafter treat such person's Account as forfeited and use such amount to reduce future Contributions to be made by an Employer as soon as administratively feasible.
For example, some defined contribution retirement plans reinstate participant accounts for the Lost Participants.
Decennial growth rates ranged from an eight percent increase between 1980-1990 to a 31 percent increase between 1970-1980.
The Council’s Issue Paper observes that plan representatives, including their accountants, regularly face accounting issues involving Lost Participants.
Reallocation of Lost Participant's Accounts If the Administrator cannot locate a person entitled to payment of a Plan benefit after a reasonable search, the Administrator may at any time thereafter treat such person's Account as forfeited and allocate such amount as Contributions as described in Section 5 as soon as is administratively feasible or as otherwise provided in Section 9.