Topic
Missing Participants
23 published works
Benefits Law Advisor
Missing Participants – New State Unclaimed Property Fund Option for Small Balances
Takeaways On January 14, 2025, the DOL issued Field Assistance Bulletin (FAB) 2025-01, providing sponsors and administrators of ongoing defined contribution plans with a new option for missing participant balances of…
Benefits Law Advisor
Should We Submit Missing Participant Data to the DOL with the Plan’s Form 5500?
If the U.S. Department of Labor’s Notice of Proposed Information Collection Request, issued on April 15, 2024, becomes final, fiduciary retirement plan committees may be asked to evaluate the important…
Hall Benefits Law Blog
DOL Requests Budget Allocation to Locate Missing Retirement Plan Participants
By Anne Hall
The U.S. Department of Labor (DOL) has requested that Congress allocate $5 million and 22 full-time employees in its 2024 budget to create a program to locate missing retirement plan…
Benefits Law Update
Required Minimum Distributions and Missing Plan Participants
In January of 2021, we published two blog posts regarding Department of Labor (“DOL”) guidance on missing retirement plan participants. The first post describes DOL guidance on best practices for…
Benefits & Compensation Blog
Key Takeaways From The DOL’s “Best Practices” Missing Participant Guidance
All too often, retirement plan administrators and benefits attorneys encounter situations with missing participants or uncashed checks that result in head scratching and exasperation. It is difficult to believe that…
Hall Benefits Law Blog
DOL Proffers Guidance on Missing Participants
By Anne Hall
It’s hard to believe people would leave retirement funds behind when they move to a new job, but it happens. In fact, many people fail to roll over retirement plans…
Labor Days
DOL Issues Guidance on Missing Participants for Retirement Plans
By Pamela D. Kaplan, Jane Wong
On January 12, 2021, the Department of Labor (DOL) issued long-awaited guidance for retirement plan fiduciaries that is relevant to any employer who sponsors a retirement plan that is subject…
Compensation & Benefits Blog
DOL Releases Guidance on Addressing the Missing Participant Problem
By Mary Grace Richardson, Joshua E. Stephens
The problem of “missing” participants and beneficiaries (individuals for whom the plan administrator does not have adequate contact information) is an ongoing issue for retirement plan administrators. It is also…
Compensation & Benefits Blog
Terminating a 401(k) Plan? The DOL Blesses Use of the PBGC Missing Participant Program
The DOL recently issued Field Assistance Bulletin 2021-01, blessing the PBGC’s Missing Participant Program as an additional method of addressing a perennial issue in 401(k) terminations – the problem of…
Ogletree Deakins Insights
Dealing With Missing Participants in Terminating Puerto Rico 401(k) Plans
For a host of legal and practical reasons, the only feasible alternative for disposing of the accounts of missing participants in a terminating 401(k) or other defined contribution retirement plan…