MILLENNIUM IN THE NEWS
Behind the Scenes: Corporate Bankruptcy and Termination of a Retirement Plan
April 2012, Terry Dunne
► This article is featured in the April issue of Benefits Magazine and is co-authored with Steven Sokolic of Benefits Consultants Group. When a company goes out of business and files for bankruptcy, retirement plan funds continue to belong to employees and former employees. In this article, Dunne and Sokolic provide an overview of the process of terminating a retirement plan.
What To Do With Those Uncashed Checks
January 2012, Terry Dunne
► This article was featured in ASPPA’s Plan Consultant magazine. People all over the country are owed money from their former employer’s retirement plan. Companies have attempted to send the distributions to participants but the checks came back as “address unknown” or the checks were never cashed. Terry Dunne provides options to plan fiduciary/administrators who want to know “Whose funds are represented by these uncashed checks?”, “Can the cash be redirected to the company?”, and “Should the assets be escheated?”.