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Products September 27, 2013
Aon Hewitt Offers Participant Locator Service
Aon Hewitt has selected Risk Compliance Performance Solutions (RCP) as a provider of lost and missing retirement plan participant locator services within its defined contribution (DC) and pension administration business.
Reported by John Manganaro
Under the new partnership, RCP will leverage its proprietary PLANSCAPE and OUTREACH solutions to help Aon clients search for and communicate with retirement plan participants who have fallen out of contact with former employers—improving compliance with Employee Retirement Income Security Act (ERISA) fiduciary responsibilities in the process.
RCP’s line of retirement plan administration solutions and services will also be used to help Aon clients in the areas of defined contribution plan termination management, uncashed check mitigation, fund distribution, treasury management, and retirement plan data analysis.
Caroline M. Castagno, CEO and partner at RCP, said that the renewed focus on participant advocacy is “the best course of action to mitigate any risks to the plan sponsor.”
Aon Hewitt currently provides administrative services to more than 14 million retirement plan participants nationally.