Missing Participant News Today : Breaking News, Live Updates & Top Stories | Vimarsana

To embed, copy and paste the code into your website or blog: On January 12, 2021, the Department of Labor (DOL) issued a 3-part set of missing participant guidance for employer-sponsored retirement plans, addressing a variety of issues: Best practices for reducing missing participant populations; Explanation of the DOL’s goals and process in missing participant audits under the Terminated Vested Participant Project; and Authority for fiduciaries of terminating defined contribution plans to use the PBGC Missing Participant Program. Uniting participants with their retirement benefits has been...

No More Missing Pieces: U.S. Department of Labor Issues Guidance on Missing Participants February 2, 2021 Share On January 12, 2021, the U.S. Department of Labor (DOL) released additional guidance regarding plan fiduciaries’ duties to find and distribute benefits to missing retirement plan participants. This guidance is helpful because (1) prior guidance lacked clarity in the case of ongoing plans, and (2) missing participants have been a particular focus of DOL plan audits in recent years. What’s New in the Missing Participant Guidance? Red Flags The DOL’s guidance identifies the fol...

On January 18, we published a blog post regarding new Department of Labor (“DOL”) guidance on missing plan participants. That post is available here, and describes the DOL’s guidance on...