Fiduciary responsibilities: Wanted dead or alive

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By Verna Brenner | 10 July 2017
An increasingly important part of a plan sponsor’s fiduciary responsibility is the requirement to monitor where plan participants and beneficiaries reside as well as their life status. It is important for the plan sponsor to be able to document that it has made a concerted effort to locate participants. Not being able to locate participants and beneficiaries at the opportune time can result in potential administrative burdens.