To print this article, all you need is to be registered or login on Mondaq.com.
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 under its missing participant
initiative. However, the guidance does not establish the type of