DOL Asks for Participant Information to Build Lost and Found Database
Plan administrators would voluntarily turn over data to DOL to help missing participants and plans find one another.
Tag: retirement plan missing participants
PSNC 2023: EBSA Head Lisa Gomez Talks DOL’s Priorities
The Department of Labor's assistant secretary discussed her agency's list of top projects—from retirement equity to SECURE 2.0 guidance and...
Compliance Duties and Litigation Risks in 2021
Attorneys review what regulations plan sponsors must adhere to and legal decisions to keep in mind for the new year.
DOL Offers Guidance for Locating Missing Participants
Guidance in three parts offers suggested processes for DC plans and DB plans and reveals errors DOL staff should look...
Guidance on Missing Participants Listed as IRS Priority
The 2020-2021 Priority Guidance Plan says the agency will include guidance on uncashed checks.
Solutions for Missing Participants and Uncashed Checks
Until guidance is issued about transferring amounts to state unclaimed property funds, plan sponsors will have to rely on the...
IRS Issues Guidance About Retirement Plan Accounts Transferred to Unclaimed Property Funds
A revenue ruling addresses income tax withholding and reporting, and a revenue procedure adds to the list of waivers of...
State Unclaimed Property Programs May Help Find Missing Participants
The ERISA Advisory Council is asking the DOL to issue guidance on plan sponsor use of these programs which reunite...
Get Beneficiary Designation and Missing Participant Practices in Order
The pandemic has highlighted the need for plan sponsors to actively encourage revised beneficiary designations and have missing participant procedures...
Pace of EBSA Settlements and Plan Corrections Is Strong
“On the retirement side, again, there is a strong focus on missing participants, and EBSA is diving incredibly deep," says...
Missing Inaction
What are the rules for locating missing retirement plan participants and what should plan sponsors do when they’re found?
Senators Reintroduce Bill to Address Missing Participants
The bill establishes steps retirement plan sponsors can take to avoid violations of RMD and ERISA rules, among other things.