Millennium Trust understands that reuniting the participant with their retirement assets is a top priority. We have a comprehensive search procedure in place to help locate missing participants.

At Millennium, individuals are considered “Missing Participants” when one of the following occurs:

  • Address information is not included in the files received from the Plan Sponsor
  • The address provided by the plan is different from U.S. Post Office National Change of Address (NCOA) records and the participant remains non-responsive to outreach at the NCOA identified address
  • Communications such as Welcome Kits or tax forms sent by Millennium are returned by the U.S. Postal System because the address is invalid or the individual no longer lives at the address given

Upon encountering an NCOA discrepancy or receiving returned mail, Millennium’s accounting system is coded to indicate that the account does not have the current address information and the participant is missing.

In searching for missing participants, Millennium utilizes a multi-step investigative process in which successive searches of various databases, including the NCOA database are performed; first by LexisNexis® and subsequently, if necessary, by Risk Compliance Performance Solutions LLC (RCP). All participant information is shared via a secure portal. If a recent change of address is identified, a notification letter is delivered to the potential participant requesting the participant contact Millennium to further establish and verify their identity. Once participants respond to the letter and their identity has been confirmed, Millennium’s Trust Accounting System is updated and Welcome Kits are distributed. Participants that remain missing will be searched for again every year thereafter.

Those participants who confirm their identity and claim the account are sent a personalized Welcome Kit and our records are updated. This kit includes a link to our online Account Agreement for the participant to complete as well as account information, frequently asked questions and access to legal disclosure documentation.

Those participants who are not found remain on our records and additional attempts to locate the missing participants are performed.