Learn why your 401k plan needs Plan Notice.
Scroll to learn how we help companies track and manage communications with their retirement plan participants.
What is the issue?
Missing Participants
Over $1 Trillion is left and forgotten in old 401k accounts. With resignations at an all time high, it will only increase.
Over $1 Trillion is left and forgotten in old 401k accounts. With resignations at an all time high, it will only increase.
New Guidelines
In 2021, the Department of Labor issued guidance for maintaining communications with participants to reduce orphaned accounts.
In 2021, the Department of Labor issued guidance for maintaining communications with participants to reduce orphaned accounts.
Regulatory Compliance
Compiling with the new standards is time-consuming, labor-intensive, and the Department of Labor is already imposing fines.
Compiling with the new standards is time-consuming, labor-intensive, and the Department of Labor is already imposing fines.
How do we solve it?
Auditable Reporting
We keep you compliant by confirming participants receive plan updates and provide auditable reports of compliance efforts.
We keep you compliant by confirming participants receive plan updates and provide auditable reports of compliance efforts.
Ongoing Engagement
We maintain current contact information by proactively searching for and regularly communicating with participants.
We maintain current contact information by proactively searching for and regularly communicating with participants.
Plan Indemnification
Because we exceed Department of Labor Best Practices, we indemnify plans against DOL fees based on lack of notice.
Because we exceed Department of Labor Best Practices, we indemnify plans against DOL fees based on lack of notice.
What is our process?
Trackable Communication
We manage all communications with participants including, email, SMS, mail, calls, social media DMs, and beneficiary outreach.
We manage all communications with participants including, email, SMS, mail, calls, social media DMs, and beneficiary outreach.
Proof of Receipt
We require participants to confirm they receive plan update notices and escalate efforts to locate those who are unresponsive.
We require participants to confirm they receive plan update notices and escalate efforts to locate those who are unresponsive.
Maintain Contacts
We continually scan multiple databases for changes in contact information and require yearly address verification from participants.
We continually scan multiple databases for changes in contact information and require yearly address verification from participants.
Who benefits?
Plan Benefits
Our system guarantees the plan meets the Department of Labor’s newly released best practices for participant communication and noticing.
Our system guarantees the plan meets the Department of Labor’s newly released best practices for participant communication and noticing.
Participant Benefits
PlanNotice ensures that a participant, even with multiple changes in location or jobs, does not lose their assets.
PlanNotice ensures that a participant, even with multiple changes in location or jobs, does not lose their assets.
What does it cost?
Free for Plans
No cost to the Plan or company for Plan Notice to manage contact verification campaigns and distribute plan update notices via email, first-class mail and SMS.
No cost to the Plan or company for Plan Notice to manage contact verification campaigns and distribute plan update notices via email, first-class mail and SMS.
Escalation Costs
Participants who do not acknowledge receipt of plan updates or fail to confirm contact information are directly charged a fee for escalated outreach efforts.
Participants who do not acknowledge receipt of plan updates or fail to confirm contact information are directly charged a fee for escalated outreach efforts.