Testimony on Behalf of Empower Retirement Before the ERISA Advisory Council on Permissive Transfers of Uncashed Checks from ERISA Plans to State Unclaimed Property Funds and Other Methods of Dealing with Uncashed Checks

This document is about Empower Retirement's experience in handling uncashed checks from ERISA plans, including the use of state escheatment as a solution. It highlights the need for clear guidance from regulators on acceptable methods for dealing with uncashed checks, as well as the challenges faced by plan fiduciaries and record keepers in this area.