Annual Verification Letter

In addition to reviewing databases and providing a monthly report of deceased retirees, some clients also opt for positive verification of plan participants.

Salem Trust provides a turnkey service that reduces the possibility of fraud while safeguarding the special connection between the plan sponsor and the retired service employee:

  • Contact: Mailing each beneficiary a letter requiring their attention by a specific time
  • Response: Following up and verifying that an officially notarized letter from each beneficiary is received
  • Confirmation: Supplying the plan sponsor with a positively identified, updated list of plan participants

The verification process can save the plan time and money, and can also help plan sponsors fulfill their fiduciary obligation to safeguard the assets of the plan.

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