Innovative Myth Series #9: When Transferring Service Providers, There Are No Pitfalls. Part 1-Protected Benefits

A new client engaged Innovative to transfer their current plan to a new service provider. During the course of our detailed review, we discovered that certain employees had annuity contracts with death benefits that exceeded the value of their plan investments. If the client executed the transfer, these participants would have lost those benefits, which is a violation of ERISA laws. See how Innovative helped our client navigate their retirement plan transition to a new service provider and avoided a potential ERISA violation.

Download full case study here. Let Innovative perform a complimentary review of your plan, contact our retirement planning team here.