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Products June 13, 2011
PenChecks Reminds Industry about Unclaimed Benefits Registry
The National Registry for Unclaimed Retirement Benefits (NRURB) is
designed to support fiduciaries and custodians holding retirement
benefits that have been left in the plan, unclaimed by missing former
participants, or have been set up as a Default IRA.
Reported by PLANADVISER staff
PenChecks said it is a free service to the Fiduciary or the Institution to register the former participant and for the participant that is trying to locate their unclaimed funds. It is a secure Web site where employers can register names for free of former employees who have left money in the plan or who have had a Default IRA established on their behalf (see “Database Lists Millions in Unclaimed Retirement Benefits“).
In addition, former employees can perform a free, secure search to determine if they are entitled to any unpaid retirement account money.
More information is at http://www.unclaimedretirementbenefits.com.