Who owns a 401(k) participant’s personal information?
“Service providers for 401(k) and other retirement plans require access to personal data on participants including name, age, address, date of hire, compensation and possibly social security number to provide recordkeeping services. Are these plan service providers simply taking advantage of a business opportunity or are they improperly exploiting information that is a plan asset that plan fiduciaries must protect?” Click here to continue reading.
Source: National Benefit Services, Inc.