Managing Challenges with Participant Data
Whether you are a Fiduciary, plan sponsor, recordkeeper, third-party administrator or even a plan intermediary, managing a participant’s census data is critical to fulfilling your fiduciary duties and in acting in the best interest of the participants, beneficiaries, and the plan. Through our flexible consultative approach, the MarketSphere Team excels at finding people and more importantly, getting them to act. Our Retirement Reunification Services include targeted strategies for identifying and contacting missing participants, reducing plan leakage, and regulatory risk.
MarketSphere has a wealth of experience spanning decades, offering expert assistance to clients. Our services encompass various solutions such as:
- Identifying unknown decedents.
- Locating and communicating with missing participants or beneficiaries.
- Reuniting unclaimed checks or accounts with their rightful owners.
- Mitigating risks associated with orphaned accounts, among other projects that integrate these solutions.
Case Studies
Click on these case studies below to learn more:
Client Reviews
Administrator – National Pension Fund
“After jumping from different (participant data) vendors over the years, we finally found a true partner that understands our business. Not only is their service great, but it’s like getting a staff member for free. MarketSphere is now part of our pension team!”
COO – Manufacturing Company
“It was a pleasure working with MarketSphere Retirement and they made a daunting project easy. We had a historical challenge due to some monies outside of the plan that needed to be allocated to participants from over 20 years ago and they were able to locate everyone and get 75% of the population to come forward. For the rest they provided reports and proof of our due diligence for the IRS. Happy to recommend them to anyone that needs help with missing or lost participants, including beneficiaries of participants that are deceased.”
Chief Fund Administrator – Third-Party Administrator
“I don’t let just anybody in front of our Funds, but MarketSphere has proven to have our client’s and their member’s best interest at heart. They are a trusted partner, and I would personally vouch for them.”
Executive Director – National Pension Fund
“MarketSphere has surpassed our expectations, and we are looking forward to expanding this relationship with them.”
Pension Manager – Third Party Administrator
“One of the reasons we chose MarketSphere is their ability to be flexible and creative. They were able to use our existing file structures and reports out of the gate with no changes.”
Principal Partner, ERISA Attorney
“With an excellent understanding of the DOL’s missing participant guidance and the needed work it takes to find lost participants or beneficiaries, MarketSphere has been a great resource for my clients.”