Former President and Founder of Inspira, Lowell Smith, wrote a fantastic White Paper on what you can do if you have an uncashed retirement plan check and you can't reach the participants. Below is the White Paper Summary and a link to the full White Paper follows.
*Please click here for a PDF copy of this white paper.*
While most Plans Sponsors, Third Party Administrators and Record Keepers know about an 8955-SSA, many Advisors aren't aware of one of the most valuable forms/reports/tools to remove terminated retirement plan participants. Simply asking a plan sponsor what they are doing with those names is a great step towards cleaning up a plan to reduce administrative burden and mitigate fiduciary liability.
If you are involved in administering IRA accounts or even have an IRA account, below are some key dates you may want to be aware of:
With the Fiscal Cliff, particularly as it relates to increases in tax rates, should many Americans take money out of tax-deferred investments by the end of 2012? That is the question many people, particularly those in the upper tax brackets, need to ask themselves and their financial planners.
Inspira, as part of its parent company ABG Capital, has been recognized as one of the best places to work in Pennsylvania. The company achieved the 14th spot on the list of 71 small and medium employers in the state, according to the 13th annual Best Places to Work in PA awards program.
With an almost insurmountable budget deficit and the threat of increasing almost everyone’s taxes if the “Fiscal Cliff” is not addressed, Congress is looking at all avenues to “grab” revenue. At $18.5 trillion in assets, the retirement plan marketplace looks like a tempting place to start.
So, Ascensus is acquiring ExpertPlan. In a joint announcement Tuesday evening, the two companies decided to make the day before Thanksgiving an absolute nightmare for ExpertPlan's relationship managers.
IRA assets encompassed 28% of all retirement assets at of the end of the second quarter, according to a November 2012 Investment Company Institute (ICI) research report. The report also noted that assets in IRAs at the end of June 2012 totaled more than $5.1 trillion, a slight drop from $5.2 trillion at the end of the first quarter of 2012, but remain the largest single pot of retirement funds. The entire retirement marketplace was valued at $18.5 trillion.