A major problem today is many plans have substantial balances from terminated employees. This issue creates unnecessary risk for the plan fiduciaries as well as excessive expense for the sponsor. We have found that human resource departments are busy with many other more pressing issues than trying to track down terminated employees with small plan balances.
Unfortunately, employees often do not know how to navigate the rollover process. We have engaged with a national firm who assists in a proactive manner to facilitate rollovers. In addition, we have provided links below to Fidelity and Vanguard.
Both of these companies have streamlined the rollover process and will hold your employees' hands during this process. We, too, are able to assist in a proactive manner and believe strongly that this is one of the value adds that we offer to our clients.