Department of Labor’s Temporary Policy Allows Voluntary Escheatment of Certain Retirement Benefits
By EsqSocial Corporation 02/04/25
In this article, the authors delve into the Department of Labor’s temporary ERISA enforcement policy for unclaimed retirement benefit payments of $1,000 or less. The Department of Labor (DOL) has announced a temporary enforcement policy under the Employee Retirement Income Security Act of 1974 (ERISA) allowing plan fiduciaries of retirement plans subject to ERISA to voluntarily pay over to a state unclaimed property fund retirement benefits of $1,000 or less if certain prerequisites are...
By: Alston & Bird