In today’s workplace, employees change jobs more frequently than ever before. This trend means there are a large number of former employees who leave their savings behind for you to administer. These balances contribute to plan administrative costs every year. Over time, it can become difficult to locate these former employees, further complicating plan administration and diverting attention from active employees who can still build value for your company.
FPS Group has designed a no-cost, fully automated, Automatic Rollover Program that will establish IRA accounts for former non-responsive employees with qualifying balances or terminating plans with non-responsive participants.