Department of Labor Issues Missing Participant Guidance for Retirement Plans | Kilpatrick Townsend & Stockton LLP
To embed, copy and paste the code into your website or blog: The Department of Labor (DOL) has issued long-awaited guidance on what it views as appropriate procedures for retirement plans to locate missing or nonresponsive participants. Plan sponsors and fiduciaries of all retirement plans, but especially defined benefit pension plans, should review and update their policies and procedures for communicating with terminated vested participants and locating missing participants carefully in view of this guidance. The DOL's new missing participants guidance takes the form of (i) a summary of wha...
Source: jdsupra.com