• Benefits Bulletin

    Who Owns A Participant's Personal Information?

    Andrew S. Williams
    10/24/19

    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. This data is necessary to allow plan administrators and recordkeepers to properly allocate plan contributions and earnings to individual participant accounts, to prepare participant statements and for income tax reporting purposes.

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