Missing participants guidance published by Department of Labor

DOL tells 401(k) sponsors how to find ‘missing’ participants
That guidance comes years after it was requested by industry groups. The Department of Labor regularly investigates employers for the issue of missing participants, but until now it hadn't provided clear steps on how to remedy the problem.
January 13, 2021
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The DOL on Tuesday told retirement plan sponsors how to avoid getting in hot water over plan participants they’ve lost track of, including guidance on how employers should try to locate such “missing” participants.
That guidance comes years after it was requested by industry groups. The Department of Labor regularly investigates employers for the issue of missing participants, but until now it hadn’t provided clear steps on how to remedy the problem.

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