DOL Issues Missing Participants Guidance
By EsqSocial Corporation 15/01/21
On January 12, 2021, the Department of Labor (the “DOL”) issued three pieces of guidance detailing the DOL’s view of what steps plan fiduciaries should take to locate and distribute retirement benefits to missing or nonresponsive participants (“missing participants”). The guidance is largely consistent with positions taken by DOL in investigations. The guidance provides DOL’s views on what is “best practices” in searching for missing participants and a glimpse into DOL’s enforcement process...
By: Groom Law Group, Chartered