Missing Participants

[J2D2]

I know there have been several threads discussing the options for dealing with benefits owed to participants who can't be found. Just wonder if anyone has heard anything new, either official or "un", in recent months from our friends in DC.

[kocak]

I"m interested in this issue also. We had a case come up this week, where we forfeited a missing participants balance several years ago. Then the plan terminated. Now the participant is found and wants paid, but we have no way in our document (since the plan is terminated) to reinstate their account.

I think ASPA commented to the DOL this summer, but I haven't seen anything since then.

mck

[mbozek]

I dont think the participant has a claim against anyone except the plan administrator/ fiduciary if he/she can be found but the S/l may have expired for a breach of fiduciary duty. This is the problem when particpants leave their benefits in the plan upon termination instead of reqesting a distribution