Missing Participant Guidance Released by DOL
The guidance includes best practices for locating missing participants in addition to best practices for documenting efforts to do so.
Tag: retirement plan missing participants
Guidance on Missing Participants Listed on IRS Priority Guidance Plan
Guidance about how to deal with missing participants and uncashed checks has been issued piecemeal over the years.
Deep Dive into DOL EBSA Enforcement Activities
When it comes to policing of retirement plans by the EBSA, the pace of settlements and corrections remains strong; experts pin this to the relative regional autonomy of EBSA offices.
Retirement Savings Lost and Found Act Reintroduced in Congress
The bill would create an online database for participants to find "lost" retirement accounts and would change rules for automatic cashouts and rollovers.
PSCA Calls for Clearer Guidance from IRS and DOL on Missing Participants
The plan sponsor advocacy organization says there have been “numerous reports of aggressive DOL enforcement activity, and sometimes inconsistent positions taken by DOL auditors, regarding how plan sponsors are handling missing participants.”