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Fiduciary Duty › Missing Plan Participants › 401k

Faegre Drinker Biddle & Reath LLP

Things I Worry About (8): DOL Investigations and Unsuspecting Plan Sponsors (2)

Faegre Drinker Biddle & Reath LLP on

As explained in my last post, Things I Worry About (7), the DOL’s EBSA has a number of programs that can restore benefits to plans and participants. Those include: - Civil investigations. - Criminal investigations. -...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Put a process in place to find missing participants

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

More than 16 million accounts of $5,000 or less — $8.5 billion in the aggregate — were left in workplace plans from 2004 through 2013. That is part of the reason that the DOL believes that dealing with the missing participant...more

Proskauer - Employee Benefits & Executive...

Terminating a 401(k) Plan? The DOL Blesses Use of the PGBC Missing Participant Program

Proskauer - Employee Benefits & Executive... on

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 missing participants...more

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